Me thinks Benny Boy at Crikey is close to the money.
The eventual, if not imminent sale of Jetstar as a trans border franchise and low fare Australian domestic and international operation must offer the clearest potential for carving up Qantas and taking off with the cash.
What I don't understand, is why good old Benny thinks it's not such a good idea. Afterall, one could be forgiven for thinking it would be Qantas and its dividend starved shareholders making off with the cash.