Qantas denies reports Jetstar Pacific has been sold

Jetstar has denied reports that Jetstar Pacific is being absorbed into Vietnam Airlines due to financial difficulties. Vietnamese media have reported a proposed ownership swap involving the Qantas group and the majority owner, the State Capital Investment Corporation, as a buyout. However Qantas denies such a structural change is a takeover. Qantas, which owns 27 per cent of the airline, had last month been expecting to raise its stake to 30% but has not reached agreement with Vietnamese authorities. A Jetstar statement says that the proposed ownership swap with SCIC would leave the Qantas Group stake in the airline unchanged.