Curtains
Excuse me if I was not clear enough. QF Group has poured in a total of Yen 15bn to date. This equates to about AUD160m.
Net cash is approx Yen 5 billion with a cash burn rate of Yen 0.7 billion per month. Thus, the Mexican stand-off will reach a climax later this year.
11 of the a/c are owned by Mitsubishi Corporation (5) and Century Tokyo Leasing (6). They each have a 16.7% shareholding (voting) but a diluted economic interest given the two recaps undertaken to date. Neither of these two shareholders wishes to inject additional capital into the business. Likewise Japan Airlines.
The only way the model in Japan can be made to look like it is working is to take the a/c leasing costs and bury them somewhere else in the group via some opaque financial engineering that will be yet another prickly porcupine for QF shareholders to endure.
Not sure why Elaine is dog-whistling a figure of $2 bn but must assume he or "someone who is familiar" means the total Jetstar group. Let's see how that figure is arrived at...
QF ASK's + JQ ASK's = TTL ASK's
(JQ ASK's/TTL ASK's)XQF Market Cap = $2bn
Well the above calculation is as plausible as any other explanation the Coward St abacus clackers might come up with.
As they say, if it walks like a duck...