Soul Planet,
With all due respect to Stanley Ho, he is just as compelled as everyone else to the Hong Kong constitution, the Basic Law.
Whether Jetstar Hong Kong gets up is dependent on their flexibility to change their business structure. Even Mr Orchard's quote in the SMH who by the way is an investment banker not an aviation expert, has said that.
My guess is that any further dilution of Qantas's share in this joint venture will probably make it unviable for them.