Keg,
The Qantas sales act would stop any part of the Australian based business being more than 49% foreign owned and 25% owned by one foreign entity. So even with two AOCs and two listed businesses the above would still apply. It also applies to Jetstar Australian ops.
As for shutting down either LH or SH that can happen BUT would have massive ramifications for the group, would destroy the share price, alienate shareholders and also will come under heavy scrutiny from the government of the day and the ACCC.
Surprisingly I'm of the belief this will be about the 787 and growth in the mainline business going forward.
Although he did shut down the airline totally before so nothing would surprise me.
