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April 10, 2012

New alliance launches Jetstar Hong Kong

China Eastern Airlines and Jetstar’s parent company Qantas have entered a new strategic alliance to bring its low fares airline model to China with the creation of Jetstar Hong Kong.

Scheduled to start in 2013, it will be the first budget airline based in Hong Kong, with a fleet of three Airbus A320s, growing to 18 A320s by 2015.

China Eastern Airlines and Qantas will be equal partners in the joint venture, which is set to target Greater China, Japan, South Korea and South East Asia.

“We believe there are huge opportunities for the Jetstar low fares model throughout Asia, including Greater China, and are excited to be the first major Chinese carrier to bring this travel option to the region,” said Liu Shaoyong, chairman of China Eastern Airlines.

Qantas CEO Alan Joyce said the new agreement would build a strong platform for accessing the world’s largest, fastest growing and most profitable aviation market, with “tremendous potential” for the carrier in Asia.

“We know from our experience with Jetstar in Australia and in the setup of Jetstar Japan the benefits of both a premium and a low cost airline operating in the same market. This will also apply to Jetstar Hong Kong, which will leverage the local knowledge and scale of China Eastern Airlines with the successful low cost model of Jetstar,” said Joyce.

Jetstar Group CEO Bruce Buchanan said the new airline’s fares “will be 50 per cent less than existing full service carriers”, making it a “unique opportunity for Jetstar to capitalise on the enormous potential of the Greater Chinese market”.

“Jetstar’s vision is to make travel more affordable for millions of people across Asia, and the demographics of China with its booming middle class are a key part of that plan,” Buchanan said.


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