Australia's Qantas Airways will close its Singapore-based budget airline Jetstar Asia, the group said on Wednesday, blaming rising supplier costs, high airport fees and strong regional competition. The shutdown of the 20-year-old airline next month will result in up to 500 job losses,

Qantas Airways Ltd. said low-cost subsidiary JetStar Asia will close next month, freeing up as much as A$500 million ($327 million) in capital to fund the group’s fleet renewal program.