If CX is not worried about JetStar, then why has it put so much effort into objecting about it it's establishment in HKG?
I understand that CX's real worry is about mainland Chinese airlines doing something similar if JQ is allowed to establish JM in Hong Kong as planned.
Nevertheless, QF (= Alan Joyce?) thought that QF Group / JQ would be able to swan in to Hong Kong and do this with nary a word said against them. And they miscalculated badly, in the same way as the GK operation in Japan appears to be going pretty pear-shaped.