During an investor briefing, Qantas Chief Executive Alan Joyce said that Jetstar Japan was now in a strong enough financial position to fund planned growth in its fleet to 28 A320 aircraft from the current 20 over the next two years.
He said: “There is this huge opportunity in Asia – Japan in particular. Japan and Singapore have been profitable for a period of time. The profits we are making there are funding their growth.”
Joyce also said that the joint venture between Jetstar Pacific and Vietnam Airlines, which plans to more than double its fleet to 30 aircraft by 2020, is battling in tough conditions due to the overcapacity in the Vietnamese market.
Qantas expects to report its second-best annual profit for the financial year ending June 30.Date: May 5, 2017