March 9, 2012 / 6:31 PM / 7 years ago

UPDATE 1-Century Tokyo Leasing to buy stake in Jetstar Japan-Nikkei

* Century Tokyo to buy 16.7 pct interest in Jetstar

* Century Tokyo will be third biggest shareholder in Jetstar

March 9 (Reuters) - Century Tokyo Leasing Corp , a unit of Japanese trading house Itochu Corp, 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 top shareholder Mitsubishi Corp, which has a 33.4 percent stake in Jetstar Japan, the daily said.

The remaining shares are equally split between Japan Airlines Co and Australia’s Qantas Airways Ltd , the Nikkei said.

Jetstar Japan plans to boost its asset utilization efficiency by lowering aircraft leasing costs and leasing offices and airport facilities, the daily reported.

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