The word from CAPA is:
Qantas operates arguably the most successful organically developed dual brand airline model in the world. Its Jetstar low cost subsidiary has effectively insulated it from domestic LCC competition, while allowing it to complement the full service airline on marginal international routes and provide a platform for expansion within Asia.
But Qantas itself is an airline with little future – as an international full service airline at the end of the line in a world where it is helpless to compete with the market and pricing power of efficient Middle East and Asian intermediate airlines able to pick the eyes out of its European and Asian services.
Bet they haven't flow Dragon Air