justinbrett
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The creative accounting already exists and has for ages as it dates back to when Virgin Australia was majority owned by International airlines.
The costs of leasing a 737 are a fair amount cheaper than leasing a 777. Back when they had widebodies foreign ownership of the whole group was closer to 50%. (This increased later by separateing the international and domestic businesses) Now it’s closer to 98%.
Plus you kind of give the same away with a big QR logo on the tail. Simply put you need more Australian investment to expand the international business, otherwise it won’t be classed as an Australian international airline.