In the half yearly Qantas accounts to 31 Dec 2013, investing cash flows were negative $939m.
In the notes below; it says 7 unencumbered A320 aircraft were added to the fleet.
At that time, 7 brand new A320 were sitting outside the Airbus factory.
Coincidence? Who owns these aircraft? If they are not the actual 7 added, could it be a quid pro quo arrangement with Qantas still ultimately paying the full cost for these idle aircraft, despite the "shared" HK investment rhetoric?
For Qantas, the end result was a negative free cash flow of $358m. Since then, Qantas has issued bonds at a rate of 7.75% to raise some $300m.
Yes Jane, Jetstar has been hugely successful! - at draining Qantas' cash!