I did not suggest "....Qantas exhibits the qualities of a "flag carrier" airline?" I stated Qantas is Australia's Flag carrier. The "qualities" went out the door with James Strong and have been on a downhill slide ever since.
I haven't researched legislation but I believe Qantas officially became the national flag carrier when in legislation when nationalised by the Curtin Labor Government in 1947 and has remained so since.
Most Australians have always had a financial interest in Qantas, whether as a taxpayer or a shareholder.
Every one in public office, particularly Judges and parliamentarians are required to declare their pecuniary interests and any gifts received. That should include declaring gratis or beneficial Membership of benefits such as the Qantas Chairman's Lounge. It would appear some (or many??) Politicians have been "compromised" and am concerned some Judges may have been similarly compromised by Qantas.