A broad brush there Eagle without saying what the exact nature of the problems you see are. Proper regulation can mean anything, I flew many a year for an Oz operation funded by a company with extremely deep pockets on what amounted to a private airline operation, yet we paid absolutely no attention to the ops manual, or indeed any CASA directive, operation never had an accident which the company used as evidence they were doing every thing right. Because it's overseen or regulated by CASA means absolutely nothing I'm afraid.
You suggest they cut corners and safety is problematic, please give examples.