TIS
First of all, Emirates was initially set up with some funding fom oil but is now standing and running on it's own merits and not being propped up by oil sales!! The sad thing is that they are making a Buck out of the tasman thru the fact that they can put 20 tons of High Value freight on the 777.
Secondly, you can only charge as much on an international route as what your competitor does (as proven by your friend & whats sad about them getting a cheap deal on a top full service airline?)
For us on the Tasman it has always been QF undercutting us..