“The results just announced have to be a consequence of poor management as well as the market failures typical of airlines. At the same time it has cut’backroom’staff upon whom safety and the quality of service depend. “Qantas is subject to the Qantas Sale Act and this does impede its business model. However Treasurer Joe Hockey appears to have identified four key criteria,(Is the firm subject to unique regulation that impedes its business model?Does the firm provide an essential service?Does the firm compete against foreign state-owned enterprises?Is the firm working to restructure its operations?)although how and if they will be applied to Qantas is anyone’s best guess s.