I guess it is about why can't QFI compete in a home port even though the home port has doubled in terms of the number of seats (and average load of 180/plane is not bad).

And it would seem the lack of a credible Asian hub is a big part of that.

Not suggesting there are any simple solutions - juts wondering how it got to be where it is.

The simple 'there isn't the demand' explanation does not account for the increase in flights by other carriers. It is unlikely they are all loss making - CX in fact is adding more flights to HKG - unlikely to do this if it was losing on its existing ones.