And Rated is trying to illustrate that JQ's profits, if any, may be illusory.
Qantas retains ownership of the aircraft, ‘leasing’ them to Jetstar. It is highly probable from our figures that the rate is nowhere near a commercial rate, therefore it remains an effective subsidy which advantages Jetstar.
Could I suggest that Rated De is not doing a very good job at proving this ?
With no basis in fact, and without evidence, we are left to consider this view as opinion, or 'the vibe'.