Reported 2 days ago
Qantas has announced the closure of its low-cost airline Jetstar Asia, based in Singapore, due to increasing supplier costs, high airport fees, and intense competition from other budget carriers. The decision will release A$500 million for fleet renewal investments, as the airline plans to redirect Jetstar Asia's 13 Airbus A320 aircraft to Australia and New Zealand. Jetstar Asia is projected to incur a loss of A$35 million this financial year, with operations concluding on July 31.
Source: YAHOO