I actually agree with Sunfish on this one. QF will likely need/want a bail out by years end, but I 100% think it will get it.
There is no way the government will let QF go down as the shock to the confidence, or what’s left of it, of the economy and all that’s Australian will be devastating. Little jars of vegemite still get pumped out, foreign owned or not, same for Qantas, nobody deep down really cares who owns it, whether you like it or not, or how it’s financed, as long as it is there. It’s a security blanket and part of Australian culture.
Bring on the Holden/Ford argument etc, but that is very different, death by 1000 cuts that everyone knew was coming and was conditioned to accept it for a very long time. If Corona threatens to take out Qantas, the ripple effect will be disastrous, the government will not let that happen.