VN Airlines now key stakeholder of Jetstar Pacific

The national flag carrier, Vietnam Airlines, on Feb. 21 announced that it has taken the majority share of Jetstar Pacific Airlines (JPA) from the Vietnamese State Capital Investment Cooperation (SCIC) and becomes JPA’s biggest shareholder.

Under the arrangement, Vietnam Airlines will hold 69.93 percent of the low-cost carrier, while the Australian Qantas Group, owns 27 percent.

Vietnam Airlines plans to sell 3 percent of its share to Qantas Airways in compliance with a previous agreement between Qantas Airways and SCIC.

Formerly known as Jetstar Airlines , JPA operates almost 150 services a week to seven destinations within the country.

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