Qantas to close Singapore-based Jetstar Asia amid stiff competition

The move will free US$326.40 million in capital for the company to invest in its fleet renewal plans

The move will free A$500 million (US$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 per cent, materially changing its cost base.

Qantas to close Singapore-based Jetstar Asia amid stiff competition

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