T-vasis,
Qantas will never see a profit in Vietnam. The government has complete control and will use the same accounting standards QF uses to ensure that JQ will never show a positive result. Any profits will go to the government.
My greatest wonder is that if JQ is going so well overseas ( it never has) then why is it that QF has to cough up for initial capital establishment costs and for further capital injections to prop them up. Based on your optimistic projections JQ should be easily able to fund these start ups.
I have never heard JQ mentioned once as providing capital to a brother start up. It is always QF.
What i would like to know is if anyone out there knows the actual capital injections, initial and subsequent, for Japan, Hong kong, Vietnam and singapore. I would also like to include here the loans qantas has made to its partners to 'facilitate' the start ups. ( this has happened at least in one case). Add all the losses accumulated minus the few profits and this will show a negative ROR! The figures, if anyone can provide them, will definitely show the disaster that has occurred o/s while Joyce has ignored mainline.