JAL - Japan Airlines (JL, Tokyo Haneda) and Qantas have announced plans to inject a total of JPY11billion (USD92.71million) into their Jetstar Japan (GK, Tokyo Narita) joint venture, the second such recapitalization of the airline the two carriers have undertaken in under a year. In November 2013, JAL and Qantas invested JPY11billion into the airline increasing their stakes from 41.7 to 45.7%.

"This investment will support Jetstar Japan's growth including the launch of international operations in early calender 2015, enabling the airline to capitalize on the significant potential of the low cost carrier market in the world's third largest economy," the Australian carrier said.

The investment will take the form of non-voting shares over two investment tranches and will be equally shared by the two airlines.

Last week, the airlines each contributed an initial tranche of JPY3.5billion bringing their respective shareholdings up from 45.7% to 46.7%. Once the recapitalization is complete, those stakes will rise to 47.1% each.

Jetstar Japan's other shareholders, Mitsubishi Corp. and Century Tokyo Leasing, will see their respective shareholdings decline from 4.35% to 2.94% as a result of the move.

Launched in July 2012, the LCC operates a fleet of nineteen A320-200s on flights covering eleven destinations scattered throughout Japan.