No. It doesn’t. What if when you want to come back Qantas has already made a couple of hundred redundant and still doesn’t need you? Back on LWOP you go!
That’s not how LWOP works.
You have an agreed return date. On the date of your return, you are an employee again.
Of course, Qantas could turn around and announce a further CR program the next day.
Or prior to your return, they could negotiate with you for you to take a further period of LWOP, possibly with the threat of further redundancies to help with your “thinking”, but they can’t force you to take another period of LWOP.