The real issue is whose AOC this will be operated from. You can't have VH rego aircraft operating on a foreign AOC.
So assuming that it is Jetstar Australia's AOC I don't see how they can run VH aircraft with foreign pilots. CASA has no jurisdiction over that check and training organisation if they are foreign licensed pilots. So therefore how do CASA regulate that AOC? If a GA outfit tried such a stunt CASA would have them in court tomorrow trying to shut them down. Since it is QF though they will just sit idly by and let it all happen and let the coroner sort the legal mess left by an accident.