I wonder why Qantas directly owns a minority stake - all with the same percentage of ownership in the countries it is currently expanding into with its Jetstar franchise.
As per the Annual Report last year, page 68;
HT & T Travel Philippines, Inc. 28%
Holiday Tours and Travel (Thailand) Ltd 37%
Holiday Tours & Travel Vietnam Co. Ltd 37%
PT Holidays Tours & Travel Tours Indonesia 37%
Tour East (T.E.T) Ltd Tours and travel Thailand 37%
in the 2007 annual report
Travel management company HTT, which is 75 per cent owned by
the Qantas Group, represents the Qantas Group in many parts of
Asia. Its destination management arm, Tour East, offers a full range
of ground handling services including accommodation, sightseeing
tours, regional tours and the meetings, incentives, conferences
and events market. As well as focusing on its established United
Kingdom market, Tour East is increasing its penetration in
new markets such as China, India and Europe. The HTT Group
handled more than 900,000 customers in 2006/07.
A travel management company has turned into an employer of flight attendants for Jetstar ?