Actually QANTAS is a 'Public' Company. They attempted to go Private, but it didn't get up.
And as for.........
Consider this...
A 747 with Captain, F/o and S/o.
While the captain is taking a break the S/O by mistake dumps some fuel. The captain is called back to the flight deck and decides to divert. WHO carries the can? The CAPTAIN
Can't you come up with a more credible analogy?