That may be true Mstr Caution, but could they have managed it against Virgin Blue and any other Tom, Dick or Harry LCC that came into Australia without JQ? Remember, QF tried a couple of tricks against DJ and Impulse but couldn't quite get it to work until they bought Impulse, rejigged it to a new brand and, voila, Jetstar is now the third carrier in the market and is actually able to make money on leisure routes. Without JQ, QF would probably be little more than a trunk route carrier in the domestic market.
Lowerlobe - when QF falls apart because of 'creative accounting', then I'll accept your comment at face value and gladly eat my hat, otherwise it's a steaming pile of something left by an animal out around Cloncurry way.