Qantas budget arm Jetstar plans to exit Jetstar Pacific JV in Vietnam

[SYDNEY] Qantas Airways's low-cost arm Jetstar said on Monday it planned to cease being a shareholder in its Jetstar Pacific joint venture in Vietnam with Vietnam Airlines in coming months, subject to approvals.

Australia-based Jetstar owns 30 per cent of Jetstar Pacific, and Vietnam Airlines holds 70 per cent.

Jetstar chief executive officer Gareth Evans said in a statement his airline had been in talks with Vietnam Airlines for some time about challenges facing Jetstar Pacific that had intensified during the Covid-19 crisis.

Jetstar Pacific will return to its original name, Pacific Airlines pending government and regulatory approvals, the carriers said in a separate joint statement.

REUTERS