Retrenchment Benefits For Jetstar Asia's Employees After It Shuts Down
On 11 June, low-cost airlines Jetstar Asia announced that it will permanently shut down from 31 July 2025. Qantas Group, the parent company of Jetstar Asia, blamed rising supplier costs, high airport fees and intensified competition in the region for this business decision.
Justifying this business decision, Qantas Group also stated that the airline is expected to post a $35 million underlying EBIT loss this financial year.
Nevertheless, Jetstar Asia has committed to operate a 'progressive reduced' schedule until 31 July 2025. Any customers impacted will be offered a full refund or an alternative flight 'where possible'.News of Jetstar Asia's closure should not be confused with Jetstar Airways or Jetstar Japan.
For clarity, Qantas owns 49% of Singapore-based Jetstar Asia (since 2004) – and this is the entity that will be shutting down on 31 July. Qantas also wholly-owns Australia-based Jetstar Airways and owns 33% of Japan-based Jetstar Japan – and these will continue operating normally.
Jetstar Asia's closure will affect about 500 employees working for the airlines.
In the Qantas Group announcement, it mentioned that all affected Jetstar Asia employees will be provided redundancy benefits as well as employment support services. It also committed to find job opportunities across the Group and with other airlines in the region.
Based on online sources, retrenched staff will receive four weeks of salary for every year they worked with the company, as well as bonus payments as a gesture of appreciation.
When news of Jetstar Asia's imminent closure broke, NTUC also came out to say that it 'will leverage its extensive Labour Movement network to assist impacted employees'.
Officers from NTUC and the NTUC's e2i (Employment and Employability Institute) will be deployed at Changi Airport Terminal 1 next week to provide on-site support to affected workers. This support will include career coaching, skills upgrading, and employability assistance.
NTUC also committed to match Jetstar Asia employees – including crew and corporate staff – to available roles with Singapore Airlines (SIA), a unionised company.
The NTUC Aviation and Aerospace cluster of unions will also synchronise efforts with the Civil Aviation Authority of Singapore (CAAS) and Changi Airport Group to identify potential job opportunities for displaced workers.
Subsequently, online media also picked up on reports that SIA and Scoot will be at the Jetstar office to speak to affected employees about available positions – and will hire 100 pilots and 200 cabin crew
Start April 2025, Singaporeans who are involuntarily unemployed can receive temporary financial support of up to $6,000 under the SkillsFuture Jobseeker Support Scheme.
As this scheme is targeted to lower to middle-income workers, affected employees must be earning $5,000 or less in the past 12 months (excluding employer CPF contributions), and live in a property with an Annual Value of $25,000 or less.
PRs can only start tapping on this scheme from Q1 2026.The post Retrenchment Benefits For Jetstar Asia's Employees After It Shuts Down appeared first on DollarsAndSense Business.
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