The company makes bugger all profit and therefore can't pay a dividend. If you ask me the share price should never have got near the $6.00 mark. On paper it should never have gone above about $3.50 and where it is now is a function of its ability to make a return on equity.
It's at a point where the company is making next to nothing but has good cash reserves and a manageable debt level but if it's let go to the point where it eats the cash you can kiss it goodbye! Im starting wonder if they'll start selling off internal services like catering and then contract them back? I suppose they could actually sell off Jetstar and let mainline rot. Not sure if the Qantas sale act can stop that because it's not part of the business as it was when the act was produced.
SN