There’s no doubt in my mind that come Nov the borders will open. Whether that comes with 14 days quarantine is yet to be seen.
The government won’t waste a good opening before xmas and the influx of passengers that come with it.
The US will hit heard immunity by August and the UK by June. The two big markets of the Qantas Network.
IATA’s 13% doesn’t relate to where Qantas will be. It’s an overall expectation which will have a bigger impact on the larger airlines. 40% seems reasonable for QF.