The problem is the Qantas Group is running two airlines.
With duplicated schedules & excess capacity & the required back house & management processes to support the duplication.
Look no further than the SYD-MEL route.
Mainline & JQ are operating duplicate services & it's costing them a fortune. Then multiply that network wide.
Blind Freddy could have told you running one airline with "two great brands" is a poor choice of resource & equipment allocation. Look no further than Air NZ and its profitability after absorbing the Freedom Airline back into its mainline operation.
I maintain the position, JQ was born in the heady days pre GFC when making money was easy.
Times have changed & I don't think the QF group can afford the luxury of running two separate brands.
Like John Slossar from Cathay Pacific once said. The low cost seats are at the tail end of economy.
The likes of JH & AJ will never talk JQ down, who would buy or invest in it then?