Publicly Qantas will be disapointed with the decision. Privately they will be content.
The world has not stood still for 4 years. The business case for Jetstar HK is not what it was 4 years ago and they now have other better uses for their capital and resources.
After a 3 year delay, with all the HK slots gone, with an un-supportive local administration, Jetstar HK was going to be a struggle.
Fast forward the 787-9.