Given that either party can apply for IB, the same is true if the determination fell significantly the way of the employees. I’d expect minimal changes with neither side being able to claim the outcome was a ‘win’ for exactly the reasons you have outlined.
Well that's a win for the employer in this instance as it will be a well below market rate EA. The question then is where to from there.
If that were to occur, ultimately the commission is washing their hands of the whole deal and challenging the pilots to all resign if they want something to resemble a market salary.
Now I'm guess both the commission and QF are gaming that the pilot's don't have the intestinal fortitude to do that.
However it would be an interesting situation to put both company and the commission into if the entire pilot work force resigned en-mass if the commission came down with a sub market EA ruling.