"We have noted expressions of concerns about the long-term viability of aviation, given the rise of budget airlines and customer expectation of ever-reducing fares. I have had the experience of establishing Jetstar...so I am familiar with the budget airline model. The first thing to say is that low fares do not inevitably mean lower safety standards."
Yep, he is familiar with budget airlines, but not so familiar with safety and risk methodolgy...to be sure