Most analysts estimate Air NZ has made a $100mil profit on its investment. A 28% return over 4 years. Not bad in the airline world.
Make no mistake, with no game change Jetstar would've confined Virgin blue to a minor company and probably driven them out of business to be replaced by Lion air Australia.
Virgin has made significant inroads against a dominant competitor, no small achievement. Their handicap is access to cheaper capital which will hopefully be remedied in due course. Meanwhile the dominant competitor has demanded hand outs from the federal government, wasted millions on a failed Asian strategy, treated its staff with utter contempt and now thanks to some fortuitous infighting amongst oil producers is enjoying the windfall of a lucky hedging policy.
All of those relishing in Virgins short term woes should perhaps consider the alternatives if in the highly unlikely event it should fold. Air Asia and lion air would only be too happy to import their business models into the highly lucrative Australian domestic market....