Strewth
This was written by Andrew Pyne in Crikey.com in March last year. It’s still 100% relevant now as it involves the exact issue we are talking about.
Jetstar Hong Kong, and some flag carrier issues
And this today in the Sydney Morning Herald.
Jetstar Hong Kong runs into more turbulence
The reality is that the precedent has already been set in Hong Kong since the Basic Law became the constitution of the HKSAR in 1997. The formation of Hong Kong Airlines in 2006 from the old CR Airways was structured specifically to comply with the Basic Law. Hainan Airlines through its holding company Grand China Air bought a 45% share in Hong Kong Airlines with the remaining 55% being bought by Hong Kong businessman Mung Kin Keung.