The RQAC Group will be back in business with a well resourced operation. There will no doubt be some students who will come back given the grumbles around the field, about how they are being treated by some other providers. Some staff will also be invited back most likely - depending on demand.
Don't be concerned about the red flag on the pole outside RQAC.
Ponder which flag flies outside REX.
Look at who owns VIRGIN. Who owns CAE OXFORD in Melbourne, Flight Training Adelaide or China Southern Academy in WA, Airways Aviation at the Gold Coast - the list goes on.
One can ponder and rave on about Australian ownership until the cows come home (also moving that way in the cattle industry as well) but its a reality in the global economy that Australia just happens to be part of.