40% lower cost base! I call bull****!
Given that approximately 50% of your costs should be exactly the same as the parent company (fuel, navigation charges, landing fees, lease costs) that means on the other 50% you believe Jetstar are 80% cheaper.
Again, BULL****!!
Then again, being so much cheaper and still not able to turn a profit displays true genius and rare talent.
I believe they will never sell any jetstar arm through a prospectus because they would struggle to legally put one together.