"Jetstar Japan and HK will be huge profit makers in 3-4 years time, massive growth forecasts in an untapped resource for a LCC."
Forecasts are often wrong. If there is going to be massive growth in Japan, why has Asia's biggest LCC(Air Asia) left the Japanese market after a short time?
Jetstar (whichever you want to insert in here) would have never existed without QANTAS injecting the capital or giving bank guarantees on debt. If you think Jetstar started from nowhere and could live on its own without the host, you are dreaming.
qantas versus virgin, page-74
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