Citing significant financial pressures, Qantas Group has announced the closure of its budget carrier, Jetstar Asia. The airline pointed to “really high cost increases” in Singapore, including fuel and airport fees, alongside fierce competition from rivals like Scoot and AirAsia. Jetstar Asia, which was often unprofitable, is projected to lose A$35 million this financial year. Qantas will absorb a one-off A$175 million hit from the closure but expects to free up A$500 million by reallocating the airline’s aircraft to more profitable core businesses.
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