Romulus, your analysis that JHAS is financially safe due to its umbilical chord to Leightons is obscured optimism. Ansett was owned by that mob across the Tasman and their owners and Management team were the first ones to bail when it went belly up, remember that moment?
JHAS needs to stand on its own feet and whilst it continues to haemorrhage financially to the alleged tune of millions and millions, Leightons will microscope it for a little longer but the ruthlessness of business is just around the corner.
The current plan isn't working that's true, but the biggest worry is there seems to be no clue from its Senior Management on how to develop a plan that will work.
Jetstar, Virgin and Tiger will decide how long JHAS will continue to flicker on unless Leightons makes an early decision that the experiment failed and call it a day.