A billion dollar profit is all well and good, but you have to consider the return on investment.
Renumeration has got nothing to do with safety. Using 'safety' is just a way of glorifying the role further. Virgin 737 crews are paid less than Qantas 737 crews (even when you factor in the efficiency differences) but they are not any less skilled. Did the overrun in Darwin occur becuase the pilots were paid less? Would the Qantas 737 have avoided the hill in Canberra more effectively if they were paid even more?
No Qantas applicant has "the renumeration package is the best in the country" as the main reason they apply. It's not the money, and it never has been... its the image, the lifestyle, and the security. These things are more closely related to 'engagement', and these are the ideals AIPA should be focussing on.
It would be advantageous for executive management to consider them too...