Qantas Group has signed a preliminary agreement with JAL Group to divest its 33.32% shareholding in Jetstar Japan (GK, Tokyo Narita) and transition the LCC to a new Japanese-based ownership structure comprising JAL, Development Bank of Japan (DBJ), and Tokyo Century.

DBJ will replace Qantas Group as a shareholder, although the exact details of the transaction remain subject to negotiations and regulatory approvals. Tokyo Century plans to retain its 16.68% stake. JAL Group currently owns a 50% stake in the airline.

Qantas plans to finalise the divestment agreement by July 2026, with the transaction itself scheduled to complete by June 2027.

Following Qantas' exit, Jetstar Japan will rebrand to drop the "Jetstar" name. The new brand will be announced in October 2026.

The LCC will continue to operate as an independent carrier affiliated with JAL Group. The current staff and announced schedules will remain in place, as will an existing codeshare agreement with Qantas and Jetstar Airways. Jetstar Japan plans to continue leveraging its strong position at Tokyo Narita and further grow its international network out of the airport, while supporting domestic connectivity and inbound tourism to Japan.

"By moving to this new structure, we will respond flexibly to market changes and maximise synergies with JAL Group to achieve sustainable growth for JJP as a key LCC at the expanding Narita Airport," JAL Group chief executive and president Mitsuko Tottori said.

Qantas said that the divestment would allow it to concentrate its resources on its core Australian operations through Qantas and Jetstar Airways. The group previously shut down its Singaporean joint venture, Jetstar Asia Airways, in mid-2025, and divested from Viet Nam's Jetstar Pacific in 2020. The Vietnamese airline has since rebranded as Pacific Airlines and continues to operate within the Vietnam Airlines group.

Jetstar Japan currently operates twenty A320-200s and three A321-200NX(LR)s.