Well it's probably not going to be all rosy over at EK either. They have a massive order book and only have fully secured finance to Aug 2012. Euro banks are closing the purse strings and bond rates are on the way up, for EK as well. Earnings for the 6mths to Sep dropped 76%. EK are increasingly looking at somewhat more "exotic" sources such as islamic finance.
Dig around the financial press and you'll see aircraft funding globally is going to be a BIG BIG problem this year. Not just for QF/JQ, but many an airline's dreams of shiny new jets and massive fleets are going to remain just dreams for the time being.