<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Qantas today announced it was closing the group's Singapore-based budget airline Jetstar Asia as it moves to strengthen its core business in Australia and New Zealand.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The decision will free $500 million for Qantas Group to invest in its fleet renewal plans. Around 500 lobs will be lost from the Asia region.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Qantas says that 13 Jetstar Asia Airbus A320 aircraft will be progressively redeployed to Australia and New Zealand, bringing more low fares and local jobs.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/bank-staff-catch-bizarre-red-flag-that-nearly-cost-woman-her-life-savings/0f5bc0e6-0002-4f5c-a1fa-973f5fba6519" target="_blank"><strong><span>Bank staff catch red flags that nearly cost woman her life savings</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Jetstar Asia has been impacted by rising supplier costs, high airport fees, and intensified competition in the region.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Qantas Group chief executive Vanessa Hudson said the company had been hit with some supplier costs rising by up to 200 per cent, materially changing its cost base.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We are incredibly proud of the Jetstar Asia team and the work they have done to deliver low fares, strong operational performance and exceptional customer service," she said.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/qantas-to-close-jetstar-asia-budget-airline/9d44e44a-9400-4bea-8e75-e90bd5ab9132" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"This is a very tough day for them."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Hudson said Jetstar Asia's 13 mid-life A320 aircraft will be progressively redeployed to core markets in Australia and New Zealand to create more than 100 local jobs and more low fares, including on regional routes.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/world/graz-school-shooting-people-suspected-gunman-dead-austria/62fd078b-4536-462b-9986-9203209fbe2c" target="_blank"><strong><span>Death toll of horrific Austrian school shooting rises to 11</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We are currently undertaking the most ambitious fleet renewal program in our history, with almost 200 firm aircraft orders and hundreds of millions of dollars being invested into our existing fleet," she said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The airline is expected to post a $35 million underlying Earnings Before Interest and Taxes (EBIT) loss this financial year, prior to the closure decision.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Jetstar Asia was launched more than 20 years, but has recently faced stiff competition from other low-cost carriers and a hike in operating costs.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The airline will stop operating on July 31. Flights will run for the next seven weeks.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/how-to-follow-9news-digital/29855bb1-ad3d-4c38-bc25-3cb52af1216f" target="_blank"><strong><em><span>DOWNLOAD THE 9NEWS APP</span></em></strong></a><strong><em><span>: Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on the</span></em></strong><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" target="_blank"><strong><em><span>Apple App Store</span></em></strong></a><span> </span><strong><em><span>and</span></em></strong><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1" target="_blank"><strong><em><span>Google Play</span></em></strong></a><strong><em><span>.</span></em></strong></div></div>