Sunstar - Didn't 3K make A$15mil or something? Beats Tiger I suppose.
It seems that QF is consolidating 3K's accounts into Group accounts despite owning just 49%. I know that this is possible under IFRS - which indicates that 3K is run as a subsidiary and not purely as an associate company.
In theory this means that 3rd countries (outside Singapore and Australia) can potentially challenge the fact that 3K is a majority Singaporean owned and controlled carrier.
Oh on an unrelated note, the name of SIA's new LCC is:
SCOOT.
SIA Plans To Name New Low-Cost Carrier Scoot | AVIATION WEEK
I kid you not.
Beats the name of yet another animal I suppose.