Qantas Airways Ltd
(ASX:QAN) is reportedly looking at a number of new joint ventures for its budget airline Jetstar to expand its footprint in Asia.
The Australian reports CEO Alan Joyce saying that while the airline will not pursue an alliance with British Airways, it is in talks with potential partners about ventures in Asia.
Mr Joyce has previously commented that he believes Jetstar will be bigger than Virgin Blue within five years.
Jetstar operates out of Australia, but has operations in New Zealand and has joint ventures in Singapore and Vietnam.
Jetstar booked revenues of $2.2 billion last fiscal year, Mr Joyce saying the airline’s domestic and international operations are growing at around 20 to 30 per cent annually, with 15 million passengers carried last fiscal year.
Qantas earned $116 million for the year to June 30, 2010.
