Yarra,
EK-state owned enterprise
No let's explore this a little:
1. Pays NO Corporate taxes
2. Pays NO Payroll taxes
3. Borrows money at state guaranteed rates
4. Advertising paid for by the UAE Government(UAE tourism)
5. Sydney Airport the most expensive in the Asia/Pacific region(MEL, BNE not far behind). Dubai Airport owned by UAE Government-how much does EK pay?
6. EK does not have to report to shareholders as a public company like QF
Just a start.....has unlimited rights into Australia where most countries exercise restraint to at least give their own a chance to compete...