QF is slowly but surely sending itself broke with the flooding mentality. The company has gone from a huge tangible business to something that if sold off today would leave the shareholders owning money to fold it up. And even if they beat VA and Rex at the domestic game, by the time it's done the next entrant will start up and so on and on. GA died the same way, CASA had a hand, but a lot of the large operators believe that undercutting is the only way to do business. Anyone who thinks $6 billion of debt is going to suddenly vaporise when rates are going up has to be kidding. Even at 5% that's $300million in profit going to keep the debt at $6B, Ie Rex annual revenue just to stop debt spiraling.