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Australian airline Qantas to hike stake in Jetstar Pacific

HANOI, Oct 16, 2009 (Asia In Focus via COMTEX) --

Company: Pacific Airlines Inc (PCAL)

Australian airline QANTAS (ASX:QAN) has announced its plan to increase its stake in the Vietnam-based budget airline, JETSTAR PACIFIC, to 30 per cent by 2010. Qantas now owns 27 per cent of the airline, while the STATE CAPITAL INVESTMENT CORPORATION (SCIC) has 51 per cent.

* It initially took an 18 per cent stake in what was then called Pacific Airlines in 2007.

* Bruce Buchanan, managing director of Australia-based JETSTAR AIRWAYS, said Qantas is committed to continuing to inject capital into Jetstar Pacific and helping to promote the airline industry in Vietnam.

Copyright (C) 2009 Asia in Focus. All rights reserved

News Provided by COMTEX

Company: Pacific Airlines Inc (PCAL)


Related terms: airline, australia, budget, vietnam

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