SYDNEY, June 15 (Reuters) - Qantas Airways Ltd’s low-cost arm Jetstar said on Monday it planned to cease being a shareholder in its Jetstar Pacific joint venture in Vietnam with Vietnam Airlines JSC in coming months, subject to approvals.
Australia-based Jetstar owns 30% of Jetstar Pacific, and Vietnam Airlines holds 70%.
Jetstar CEO Gareth Evans said in a statement his airline had been in talks with Vietnam Airlines for some time about challenges facing Jetstar Pacific that had intensified during the COVID-19 crisis.
Jetstar Pacific will return to its original name, Pacific Airlines pending government and regulatory approvals, the carriers said in a separate joint statement. (Reporting by Jamie Freed; Editing by Tom Hogue)