Waren9,
I have to take your word for it that JQ NZ made a token profit of $60K.
The problem for QF is, whilst AJ has been napping & focussing on making his $60k a year on JQ NZ, AIR NZ has ordered the 787 9.
With a range of up to 8500nm with a full payload. It opens the opportunity for AIR NZ to fly from Auckland direct to destinations such as Chicago, Miami, Calgary or Detroit.
One stop via AKL, may end up a better offering than QF via LAX or DFW.