Regarding the JQ/QF employee sibling squabbling that continues on this forum...
It is completely impossible to determine how profitable one entity would be without the other. That scenario and any figures derived = pure speculation. The two brands are completely inter-related and inter-dependent now and, while I’m no AJ apologist, the market has determined that the “dual brand” strategy is a success.
Sometimes one acts as a shield for the other...sometimes a sword. One thing, however, that should be completely obvious to even the casual observer is that there is a (large) market for both premium and low cost flights. If you try to force ALL customers onto a QF service, or ALL onto a JQ service, you will lose a significant amount of revenue to a non-QF Group competitor. The data available from sophisticated modelling these days would enable them to be quite accurate in right-sizing the number of premium vs low cost seats on various routes.
There’s only 1 share price...only 1 team...operating in a very competitive arena.
PG