It appears to be based on significant substance.
Seems there was a bit of urgent dialogue late yesterday between the Australian and NZ regulators and the red rat. Seems like it will happen quick.
Unfortunately the plan is Jetconnect. NZ based and registered. 744's to be phased out rapidly with just a few remaining.
Goodbye Europe. HK, pacific to become the bread and butter, Jetstar to take over Asia. Token 380 to LHR, the rest of the network to be cut significantly.