Lion Air (JT, Jakarta Soekarno-Hatta) is in early talks with Qantas (QF, Sydney Kingsford Smith) to acquire the Australian carrier's 49% stake in Jetstar Asia Airways (Singapore Changi) Reuters newswire has reported. Neither Qantas nor Lion Air confirmed the development though any prospective deal would be subject to Singaporean regulatory approval.

The Singaporean subsidiary of Jetstar Airways (JQ, Melbourne Airport), Jetstar Asia's shareholding includes Singaporean businessmen Tony Chew (22%) and FF Wong (10%), the Singapore government's investment company, Temasek Holdings (19%), and Qantas which holds the remaining 49%.

With a fleet of eighteen A320s, the carrier offers regional services to Myanmar, Cambodia, Malaysia, Philippines, Thailand, Vietnam, Japan, Taiwan, China, Hong Kong, and Macau.