QF Pilots have a strong company and a strong union, they are likely to be able to maintain their T&Cs unless the company is still experiencing heavy losses in 6-12 months time. Obviously their Pilots will be earning less as flying pay, overtime, duty allowances, night stop allowances etc will down due to less flying, but the basic structure should still be intact.
A new pay deal will be high up on the list of any potential purchaser of VA, who will want to know the exact running costs of the new entity. No one will agree to buy and start enterprise bargaining with the workforce once they take over. A 2 year agreement on similar terms to JQ is likely to be on the table and needs to be signed off before any sale goes through.