Interesting to read that the decision was based on the fact that Jetstar Hong Kong is not majority owned by local interests regardless of what the financials say because they could never make an operational decision without the input of Australian based investors.
This to me means that the AOC will never be issued as ALL the Jetstar franchises are run from Melbourne. All I can say is that it is actually good for the Qantas group that a regulator has finally stood up to this smoke and mirror show. I am sick of Qantas saying that they are just minority shareholders in these other airlines when most of the time they are giving interest free loans to some local 'businessman' who then uses it to purchase a majority share in the franchise and has absolutely no say in how the airline is run.
JH says their investment in Jetstar HK is only $10 million dollars, I would say that this is certainly 'bending' the truth, not that we will ever see the true exposure reported.