At the risk of being flamed here, I can actually see the merit in running the numbers over it from their perspective...
Considering the alternatives, there is a very reasonable chance that if another buyer, particularly Private Equity, stumps up for Virgin that they will severely gut the airline's network and strip it back to capital cities/trunk services, maybe even Golden Triangle only. Domestic leisure markets run the risk of being completely decimated under this scenario if Qantas/Jetstar end up with a monopoly into regional destinations. Which would have a multi-billion dollar impact all the way up the Qld coast.
Even if it took on the airline as a loss leader, it may very well be the best infrastructure investment that a Qld Government might make (it may not!). The numbers "stacking up" in this context don't necessarily mean that the airline itself is profitable or the routes into regional Qld tourist destinations are standalone profitable, but if the Private Equity scenario emerged there's a lot of foregone state payroll tax, a lot of tourism businesses that may fold and no multiplier effect into those regional economies.
If I were in charge of state government coffers, I'd at least want to know whether the alternatives are worse, so it seems eminently sensible to get QIC to run the numbers on it...