QAN,
Fair enough. I think the question still stands though, as to why anyone would use an operating lease when ownership or even a finance lease would be better for the bottom line. Perhaps I can understand it with a startup LCC with little capital and which may have trouble getting finance at favourable rates, but JQ has the backing of QF and could take advantage of QF's credit rating if it chose to do so.
It's always baffled me that the aircraft leasing/ownership arrangements which are the best strategy for QF are apparently the wrong strategy for Jetstar
