I couldn't agree more with most of the comments...but I will try.
Having just listened to the address in full, all I can say is that both AJ and the whole board are delusional.
AJ talks about the various components of the Qantas Group. He gives numbers on some of them but is clearly unwilling to break out the cost structure for Jetstar for fear of exposing the fallacy of his arguments.
To claim that Jetstar Asia is a successful business is not only wrong, it is materially misleading to investors. To think that QF can set up a full-service carrier based in Asia is just a nonsense. Who in their right mind would put up the 51% of equity required for less than 90% of the control. Traffic rights were not mentioned at all.
I thought the Press Club were there to expose such ineptitude, instead they lay out saucers of cream.
The King hath no clothes.
Pla ar do theach!