Emirates-backed Qantas
Its a euphemism
, a fig leaf. Qantas is controlled in all but name only by Emirates, with a nod to the QSA.This has possibly been Emirates best non-investments ever. Gifted an extraordinary route structure to a strong currency zone and an almost captive 65% market share domestic code-share / marketing partner. It also blocks the true competitors in Asia (SQ & CX) from doing a deal to gain access to that domestic partner. Does it get any better?
EK sat back and watched the Jetstar Asian franchise plan gut the finances of QF, moved in and picked the carcass clean. Nice work AJ and team. One has to live in hope of the existence of karma.
"Man is the only animal that can be skinned more than once."
-- Jimmy Durante