Virgin seeking $1.4bn bailout., page-80

It's just the inherent racism in Australian society that people bring up the foreign ownership, as if none of the Qantas shares are owned by foreign parties!
In fact by their own disclosure 35.78% of Qantas is owned by foreign parties.
https://investor.qantas.com/investors/?page=foreign-ownership
By law the maximum is 49%.

VA provide an essential service for Australia that keeps the economy going, if it goes under the recovery will be slower & more painful. Prices will go through the roof in Australia just as they were in the past with Ansett/Qantas duopoly.

If the Coronavirus crisis lasts longer than everyone thinks do you really think the government won't bail out Qantas?
Of course it will, for the same reason it should bail out VA now.