Decks are clear. Transformation on track and returning to profitability next FY- ie already. QSA is being revised and may yet be revised further. My money's on China Southern being the cash coming in and then that means fleet investment and so on.
Overall I reckon its a genius strategy given they still have a narrative to belt the various unions over the head with in upcoming EA negotiations.
I'd rate Qantas now as a 'buy'- at least for the medium to long term. It'll be pretty volatile over the next day or so.