SUBSIDIARY CORPORATIONS – SINGAPORE

Final call for Jetstar Asia as Qantas reclaims its planes

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Original article by Robyn Ironside
The Australian – Page: 13 & 17 : 12-Jun-25

Qantas has advised that 500 employees at its Singapore-based Jetstar Asia subsidiary will be retrenched when the carrier ceases operations at the end of July. Jetstar CEO Stephanie Tully has indicated that Jetstar Asia is like to book a loss of $35m for the 2025 fiscal year, and it has been profitable in just six of the 20 years since it was established. She adds that other airlines that fly under the Jetstar banner are profitable. Jetstar Asia’s fleet of 13 Airbus A320s will be redeployed on Australian routes operated by Jetstar and Network Aviation; the latter provides ‘fly-in, fly-out’ services in Western Australia.

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, JETSTAR AIRLINES PTY LTD, JETSTAR ASIA

Fortescue’s secret shell in Singapore

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Original article by Amanda Saunders
The Australian Financial Review – Page: 1 & 8 : 27-May-15

Fortescue Metals Group chairman Andrew Forrest recently criticised BHP Billiton and Rio Tinto for using marketing hubs in Singapore, which has lower corporate tax rate than Australia. However, it has been revealed that Fortescue itself established a Singapore-based iron ore marketing company in January 2014. The iron ore price has since shed around 55 per cent, which has significantly reduced Fortescue’s profits.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE INTERNATIONAL MARKETING, AUSTRALIAN TAXATION OFFICE, GLENCORE PLC, VALE SA