Sorry for the naivety of this, but can anyone answer this question.
Given that the common problem here is J* (and AJ - but that is another whole issue) is it too late for QF to back off?
To be a little more specific, if Qantas was to concede defeat in its low cost carrier, re-merge the fleet, and maintain focus solely on Qantas domestic and a company wide restructure later to expand back into the international game.
As it has been noted a number of times, Qantas Intl hasn't made a quid in quite a while, would it not be beneficial to focus on the cash cow and try to salvage your domestic ops?
In relation to the J* - we all know in Asia, only the Asians make money. Why are QF continuing to flog a dead horse? Dissolve the J* international, and slowly move J* domestic ops back into QF mainline domestic ops.
I understand the concept of management creating a loss making carrier, but they have failed to compete with Virgin, they are not going anywhere.
Back down, accept defeat, work with what you've got and try to salvage Qantas...