There is no question the idiots running QF/Jet* would have contributed to any failure, but I would argue the Chinese Govt saved them from a more catastrophic long term failure by (how can I put this most politely?) a very, very detailed consideration of any regulation that might ever affect the operation. Especially when said regulators would have been all too aware that their careful consideration was sending idiots with bigger egos broke. Much as I would like to lay blame on the most incompetent bunch of Australians since fund managers loaded up on Bond Corp, I cannot and most could not see regulatory approval ever happening. They should be taken out and shot for trying it on, but blaming them for failing after deciding the idiotic thought bubble might be a good idea is being a bit harsh.
I think as Sunfish pointed out, it is extraordinarily lucky for the Coward St Muppets that the Phantom Airline is mostly parked in Europe and not China.
HIALS: I might be so bold as to suggest Sunfish is not a Vitriolic Rascist, more an analyst with a keen interest in nationalistic business perceptions. I see nothing other than experience based on facts (certainly nothing I have seen suggests he is wrong with his assumptions) being pointed out. Most nations I feel are similar, the Chinese simply have more money thrown at them than others....