Capt Kremin is right about McCrann's article.
Further to that, J*'s international sectors don't usually make money either. Look at the monthly traffic statistics and load factors.
J* also doesn't have all the requisite infrastructure and in house requirements that a stand alone airline has and needs but instead according to AJ pays Qantas fair value for these things, and if you truly believe that..... well enough said!
So if Qantas goes all of a sudden,J*'s free suck at the Qantas teat disappears and J*'s costs go up.
Why was it that Buchanan got the flick from J* really? Wasn't really to start a face cream business. Seem to recall some comment about the fact that the low cost carrier model didn't work with international flying or something like that. Don't think AJ liked that much!!