wrong Swire Pacific is based in Hong Kong and listed in Hong Kong- not in England so majority of CX is HK owned.
Jetstar HK is minority owned by a Hong Kong company
all QF has to do is set up a subsidiary investment firm in HK that is HK based and ensure more than 50% is HKG owned like it is for CX 25% Public and 44% Hong Kong based and run Swire Pacific( which in turn is majority HK owned- not Swire owned)
yes the 49% rule does apply which is exactly why Hainan did not take more than 49% of HK express -else HK express would not comply with law.
so the situation is fairly similar. Virgin should continue to provide competition to QF and give them a stronger taste of their own Medicine