busdriver,
because legally Qantas only owns 49%!
Westbrook has the other 51%.
Now whether Qantas has other side agreements or loans, as alleged above, to Westbrook is difficult to tell, or indeed whether any loans have any equity like clauses
(e.g say Jetstar Asia is sold to AirAsia or floated on the Singapore market for $1bn assuming no debt (Air Asia has MCap of about US$2bn) - Qantas entitled to $500m, Westbrook to $500m. If say there is a $100m loan from Qantas to Westbrook - is the split $600/400, or is there something else.)