The only bit I agreed with was when he called Jetstar an "unbelievable" business. He's right - I don't believe it.
I heard him several times refer to the J* Int franchise as "very profitable". J* Pacific is a basket case. J* Asia has lost $80m since it started and only just last year posted a very small profit of $4m. And there have been questions asked in the Singaporean media as to whether the company is being propped up by J*/Qantas.
J* Int carries more than double the pax to Japan than QF, so you would think they would have borne the majority of the $72m loss due to the earthquake. Add to that about another $10m for CHC and I'm struggling to believe they didn't make a loss as well.
After repeatedly stating that Jetstar and FF were carrying the rest of the group, he did mention QF Dom once .... as an afterthought. That must have really hurt.