So basically what this means is:
1) The Qantas arrangement to employ Asian crew from an arms length third party supplier is a sham, in that it isn't an "arms length" transaction?
2) Qantas may be 100% exposed to Jetstar Asia, which should galvanise the shareholders mightily if it is correct.
If Qantas "arranged" for Mr Choo to find the finance for his purchase of Temasek's shares in Jetstar Asia, then you can bet your bottom dollar that Qantas is Guarantor, or has provided some other form of security for Choo's lenders. Could somebody ask this as a question at the Qantas AGM?
If this is true, it would be consistent with my assertion that there is no way in hell that Jetstar Asia is a winning strategy and Asian investors know it.