See this press release for what it is - an attempt to calm an increasingly concerned institutional shareholder group.
Remember this group holds shares in Qantas, not in the yield destruction exercise that is JQI.
It is an open secret that the Boston Consulting plan for the Qantas 'group' is for 70% of existing destinations to be services exclusively by JQ and the rest by red tails.
Note that excluded to this is the B787 flying which will be done by contractors outside both seniority lists.
At some point the cross subsidisation will end because the parent revenue stream will not be there to support the JQ operation. When this happens is anyones guess, but inside 10 years would be my bet.
Hopefully the institutional shareholders will be able to see inside the operation by then and exert influence. The problem is that so much is being done by Clifford in the name of 'union busting' that by the time the penny drops any remedial action to save the brand may be a case of too little too late.
This current situation has eerie parallels to the way Frank Lorenzo took apart Eastern in the 1970's in the name of 'breaking' union influence of the operation.
By the time Lorenzo had finished the airline was bankrupt, tens of thousands were unemployed, and Lorenzo himself was vilified and banned from being involved as a company director in the US ever again