** Shares of Australian flag carrier Qantas Airways QAN.AX rise 5% to A$11.03
** Stock set for biggest single-day gain since May 5, if current trend holds, and also the top gainer in Australia's S&P ASX 200 .AXJO benchmark index
** Analysts at Morgan Stanley raise PT on the airline to A$12 from A$11.5
** QAN said on Wednesday it will close its Singapore-based budget airline Jetstar Asia, blaming rising supplier costs, high airport fees and strong regional competition
** Brokerage says the closure of Jetstar Asia and recycling of A$500 million ($325.10 million) in capital are positive but are offset by softer capacity, losses from Jetstar Asia and absence of bump from fuel despite favourable moves
** MS keeps "over-weight" rating on stock
** Adds QAN is set to continue to benefit from improved competitive position and is expected to see further demand improvement in FY26
** Stock up 23.4% YTD
($1 = 1.5380 Australian dollars)
(Reporting by Rishav Chatterjee in Bengaluru)
((Rishav.Chatterjee@thomsonreuters.com;))
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