AssetID: 54836893
Headline: UNCAPTIONED: Qantas Shuts Down Jetstar Asia Amid Soaring Costs and Competition
Caption: Qantas Shuts Down Jetstar Asia Amid Soaring Costs and Competition. Qantas has announced it will shut down Jetstar Asia, its Singapore-based budget airline, by July 31. The decision comes as the carrier struggles with rising supplier costs—some up 200%—high airport fees and growing competition from regional low-cost rivals like AirAsia and Scoot. The move will release A$500 million in capital, which Qantas plans to reinvest into its ambitious fleet renewal program. Thirteen Jetstar Asia Airbus A320s will be redirected to boost operations in Australia and New Zealand. Launched over 20 years ago, Jetstar Asia was created to meet rising demand for budget air travel across Asia. But after years of underperformance, it's now expected to post a A$35 million loss for the current year. Qantas CEO Vanessa Hudson said the airline must focus on its stronger-performing core markets, and invest in its future fleet to stay competitive in the global market. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current affairs & Politics,Qantas,Jetstar Asia,shutdown,Singapore-based,budget airline,July 31,rising costs,supplier costs,airport fees,competition,AirAsia,Scoot,A$500 million,capital reinvestment,fleet renewal,Airbus A320,Australia,New Zealand,underperformance,A$35 million loss,Vanessa Hudson,core markets,global competitiveness.
PersonInImage: