I guess it depends upon what tier of the business wears the overall group loss. It's a fair suspicion that QF's international arm is Peter, with JQ being Paul. Whether VA has employed a similar strategy in reverse, well who knows?
Overall the entire business has to be viable, something the next few years will reveal.
Personally I hope VA hasn't bitten off more than it can chew. The acquisition of Tiger and Skywest obviously had an effect on the bottom line. The real endgame however must surely be the costs involved in making these acquisitions profitable?