According to an acquaintance who was at the meeting with David Hall, it was stated that the downturn after the Christchurch Earthquakes meant that the business was only 'breaking even' and he thought that would be the case for the next couple of years until passenger loads recovered, he also said the margins were 'very thin' in NZ.
JANZ staff were told that in its first year of operation domestically in NZ there was a small (six figure) profit made. Problem is that with the way it is all setup between Qantas / Jetstar / Jetstar NZ we will never truely know the viability of each business, we have to trust in what we are told (Big Ask). Either way, considering the Qantas New Zealand brand was losing between $10 - 20 million per year (allegedly) on the domestic operation then I think a break even with Jetstar would be considered a win for the group.