JQ exists because QF want it to exist!
It is not a stand alone company. It is a segment of the Qantas business.
It is the growth vehicle for QF because it is not restricted by legacy issues the parent has. In time it will have to deal with similar issues but for the moment it is getting all the goodies.
I still believe it is utter stupidity to expand any airline in the current climate. Even the sale of the FF business is looking shaky. Not a good time for JQ to expand services to EU and US.