Qantas Acquires 18% Holding in Pacific Airlines

Australian airline group Qantas has finalized the first of three investment installments taking its shareholding in Vietnam-based carrier Pacific Airlines to 18%.

Qantas CEO Geoff Dixon said that the group would finalize its entire investment over the next two years to ultimately hold 30% of Pacific Airlines.

He said that Jetstar Airways’s CEO Alan Joyce and CFO David Hall would represent the Qantas Group on Pacific Airlines’s six-member board of directors.

Qantas and Jetstar executives would also fill a number of key management roles in the airline to support the investment, he revealed.

“The initial strategy is to reposition Pacific Airlines as Vietnam’s only low-cost carrier to enable its future expansion both within Vietnam and – in the future – internationally, through short haul intra-Asia services,” Mr Dixon said.