Sign up | Log in



 3 Apr 2009

Singapore state firm sheds stakes in Jetstar Asia and Valuair

Singapore's Temasek Holdings is selling its stake in the holding company that owns two Singapore-based low cost carriers, Jetstar Asia and Valuair, reported Channel News Asia.

The company, Orangestar Holdings, is 45.04 per cent owned by Qantas, with Temasek holding a 33.5 per cent stake. The rest are held by minority shareholders.

Qantas Group and Singapore company Westbrook Investments will acquire the venture from Orangestar.

The acquisition will see Jetstar Asia and Valuair operating under a new ownership structure that will enable them to work more closely with Qantas' fully-owned Australian-based subsidiary Jetstar.

Under the agreement, Qantas will hold a 49 per cent stake in the new holding company for the two airlines called Newstar, while the remaining 51 per cent will be held by Westbrook which is wholly-owned by Dennis Choo Teck Wong.

In a statement, Jetstar Asia says Choo will be appointed as chairman of Newstar Investment Holdings.

Jetstar Asia and Valuair CEO Chong Phit-Lian said the benefits from the change will be extensive and it is not expected to impact the airline's operating flight schedule nor manpower needs.




Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited

submit your comment in the box below 





1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand