Jetstar Japan completes leasing arrangements for 24 aircraft

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Jetstar Japan has completed its leasing arrangements with five lessors for the 24 Airbus A320 aircraft it expects to receive in the next three years.

The lessors include the airline's shareholders Mitsubishi Corp, through its subsidiary MC Aviation Partners, which will lease five aircraft and Century Tokyo Leasing, which will lease six aircraft.

GECAS, Hong Kong Aviation Capital and Jackson Square Aviation are lessors for six, four and three aircraft respectively, adds the low-cost airline.

The five lessors were selected after a competitive tender process, says the carrier.

"It's unique for a start-up airline to have completed such a large and complex set of transactions prior to the first flight and it's a credit to the lessors we have selected," says Miyuki Suzuki, chief executive of Jetstar Japan.

The 24 aircraft, valued at over $2 billion, were sourced from Qantas Group's existing fleet orders, allowing Jetstar Japan an access to early delivery slots.

The Tokyo-based airline, a joint venture between Japan Airlines and Qantas Airways, began domestic operations on 3 July with three new A320 aircraft configured for 180 passengers. Its fourth aircraft will be delivered next month.

The airline aims to operate up to 26 flights a day by the end of August and plans to introduce international flights in 2013.