In the news today:

Growing speculation about an announcement that the current Qantas Group will be split into 4 parts:

■ Qantas Lite, which would own the main airline and Jetstar brands and be responsible for its 37,000 flight and ground crew staff, terminal facilities and route network of 143 destinations.

■ Fleet Co, an aircraft leasing business that would control the 154 planes owned by Qantas, worth a total of $US3.8 billion ($4.47 billion), which would be leased back to the airline.

■ Loyalty Co, a new subsidiary which would be responsible Qantas' frequent flyer loyalty program which analysts estimate makes pre-tax profits of $175 million a year.

■ Freight Co, which would take up Qantas's equity stakes in air freight operators Australian Air Express and Startrack Express into a stand-alone operation which could also own or manage the space allocated for freight on the planes used on its international routes.

Link: http://www.smh.com.au/news/business/...647827255.html

There is no mentioning what will happen to the catering and holiday businesses.
It wil be interesting to see whether an indipendent loyalty program will combine status and points or whether the two will be split as well. And of course what will happen to lifelong status.