Ann: QZ - 1HFY22 - Results Release, page-8

If a previously profitable company like AQZ incurs a loss, what does that say about QAN given the ties between the two?

QAN's 1H 22 financial update in a couple of weeks is almost certain to be disastrous. Its passenger numbers internationally look to be very poor based on a sample accessed on multiple days, with routes such as SYD - Singapore having low patronage and others like SYD - Honolulu cancelled after IIRC not much more than a month of operating flights.

Domestically, many QAN flights are around half full, despite the company having reduced frequencies.

This will 'feed' into Alliance in a negative way, probably reducing its flying hours and hence revenue.