If true, 'tis just a replay of the Impulse-Jetstar deal. Gotta be good business to create a third (low-low-low cost) player in the QF stable to starve out all those pesky Tigers and Strategics and any other wannabes that poke their heads too far above the parapet. Also sends a signal to Cobham to keep a very sharp pencil come contract time.
Not so good for pilot T&Cs.