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Bain Ramps Up Japan Property Deals After Amassing $5 Billion in Value

Bain Ramps Up Japan Property Deals After Amassing $5 Billion in Value

Bloomberga day ago

Bain Capital is bolstering its property investments in Japan with a pipeline of deals, fresh after taking over Seven & i Holdings Co. 's supermarkets and amassing more than $5 billion of real estate assets in the country.
The investment firm has about five deals under discussion that leverage a strategy to unlock value from real estate assets held by Japanese companies, said Man Kinoshita, a partner in the special situations team.

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Qantas to close low-cost arm Jetstar Asia and cycle $326.4 million of capital
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CNN

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Qantas to close low-cost arm Jetstar Asia and cycle $326.4 million of capital

Australia's Qantas said on Wednesday it will close Jetstar Asia, the group's Singapore-based budget airline, as it reels with rising supplier costs, higher airport fees and intensifying competition among low-cost carriers. The move will free A$500 million ($326.40 million) in capital for the flag carrier to invest in its fleet renewal plans. Qantas said that 13 Jetstar Asia Airbus A320 aircraft will be progressively redirected to Australia and New Zealand. Jetstar Asia continues to be negatively affected by rising supplier costs, high fees at airports and rising competition in the region, fundamentally challenging its ability to deliver returns comparable to the stronger performing core markets in the group. Group CEO Vanessa Hudson said the company has seen some supplier costs rise by up to 200%, materially changing its cost base. 'We are currently undertaking the most ambitious fleet renewal program in our history, with almost 200 firm aircraft orders and hundreds of millions of dollars being invested into our existing fleet,' Hudson added. The low-cost unit has faced intensifying competition from Southeast Asian budget carriers, including Capital A's AirAsia and Singapore Airlines' Scoot. Qantas launched Jetstar Asia over two decades ago, in a bid to capitalize on the growing demand for low-cost air travel in the continent. Jetstar Asia is currently expected to post an underlying EBIT loss of A$35 million in the current financial year. The airline will cease operating on July 31 and will continue flights for the next seven weeks.

Qantas to close low-cost arm Jetstar Asia and cycle $326.4 million of capital
Qantas to close low-cost arm Jetstar Asia and cycle $326.4 million of capital

CNN

time22 minutes ago

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Qantas to close low-cost arm Jetstar Asia and cycle $326.4 million of capital

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