March 9, 2012
Century Tokyo Leasing, a unit of Japanese trading house Itochu, will buy a 16.7 percent stake in budget airline start-up Jetstar Japan, to expand its aircraft leasing operations, the Nikkei reported.
The company will buy the stake from shareholder Mitsubishi, which has a 33.4 percent stake in Jetstar Japan, the daily said.
The remaining shares are equally split between Japan Airlines and Australia's Qantas, the Nikkei said.
Jetstar Japan plans to boost its asset use efficiency by lowering aircraft leasing costs and leasing offices and airport facilities, the daily reported.
