James, what you are saying is that even though the industry saw flaws in the Cost/Benefit case- that was the whole basis for the deal- that they still decided that the $100m "subsidy" from the airlines was to good to be true and should be grabbed regardless.
I bet there was not one astute businessman at the meeting - no Geoff Dixon, no Brett Godfrey and no Alan Joyce. I certainly was not allowed near the place.
Once these people hear the true story the decision will be very different - wait and see!