Qantas to exit its low-cost aviation JV with Vietnam Airlines in a "giveaway deal"

Photo from Vietnam Airlines.

Australian airline Qantas is expected to finalise an exit from Pacific Airlines, its joint venture with Vietnam Airlines, in a “giveaway deal” by the end of this month, according to Vietnamese media reports. Qantas holds a 30 per cent stake in the JV.

The reports quoted Vietnam Airlines’ spokeperson Dang Anh Tuan as saying that the shares will be transferred to the country’s flag carrier as a bestow from Qantas. “Vietnam Airlines has reported to relevant authorities and is working on some procedures to prepare for an expected official announcement by the end of October,” the spokesperson reportedly added.

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