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Jetstar shines into Asia, Virgin Blues profits (and owners) grounded

The strategic value of Jetstar to the Qantas Group has been dramatically underscored by recent events. As the Qantas low cost unit unveiled details of its partnership with Vietnam’s re-born Pacific Airlines to tap Asian growth markets, its domestic rival, Virgin Blue, has unveiled a profit warning, a loss of market share and a lack of compelling buy-out offers.

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