Rated, I totally agree.
When he declared QF International to be in “terminal decline”, the loads hadn’t changed, they were still chockers and I understand that the yields were good due to an overall reduction in ASK’s. He was able to make International look really bad by having a lot of Jetstar’s costs (fuel, spares, engineering, etc) paid by International.
This has been one of the greatest share price manipulations of all time.