The QAN situation is intractable. The 49% foreign ownership law...

The QAN situation is intractable. The 49% foreign ownership law is a problem, and more importantly the QANTAS sale act which is its achilles heel. I cannot see the law being changed for a select group of individuals - raiders etc - to make a killing (ordinary investors are well under water now, at best they'll break even).

The left field outcome is the government taking control of the international business. I see this as the only real solution. But you won't see anything like this happen in the current election cycle.

So with the QAN management busy fighting unions, itself, and the government, as opposed to VAH which is running its business --- I can see sector rotation and maybe even the possibility of VAH being a more profitable business than QAN.

My only fear for VAH is the big boys know this too. I wouldn't be surprised if VAH goes private in some sort of deal.