Jetstar Pacific Airlines’ shareholder Qantas Airways Ltd. is withdrawing from the joint venture and has transferred its 30% stake in the budget carrier to Vietnam Airlines. Previous to the transfer, Quantas owned 30% and Vietnam Airlines owned almost 70% of the airline.
As part of the agreement Jetstar Pacific will be rebranded as Pacific Airlines, its original name.
The original name change from Pacific Airlines to Jetstar Pacific was meant to create a new brand for a Vietnamese owned budget-airline, while allowing Vietnam Airlines to keep its position as a premium airline.
Jetstar Pacific is now implementing all necessary government and airline industry procedures to complete its transformation into Pacific Airlines, with a new logo and brand identity unveiled to the public (above).
The carrier will officially operate under the new brand pending government and regulatory approvals.
In order to further align operations with parent Vietnam Airlines, Pacific Airlines will switch its flight booking system to Saber, which is used by Vietnam Airlines, from the current Navitaire booking system.
|Jetstar Pacific Airlines check-in counters at Tan Son Nhat International Airport in Ho Chi Minh City|
Qantas’s involvement in Jetstar Pacific dates back to 2007, when it received approval from the Vietnamese government to buy a 30% stake in the Vietnamese carrier. In 2012, Vietnam Airlines took over the government’s stake in Jetstar to become its majority owner.
In discussing the deal, representatives from both airlines said that they plan to continue to review the budget carrier’s structure and future shareholding arrangements and will continue to cooperate in as many areas as possible.