Get a bit more fundamental - this is after all a once government (public) owned asset - resold back to the public (thru direct or super investment). The executive who now drive it - what is their primary goal? Is it the long term sustainability of the business? I think not. Is it customer (and customer service) driven? I think not.
The only reason many funds are invested in QANTAS is that they basically have to be to spread their risk exposure across the market.
If you based the investment on the motivation and strategy of the executive, you would drop it like a cold spat-on chiko roll and watch the share price tumble south.
In fairness, QF are not alone on having a company run this way - it is partly why the unsustainable expectations of the market and the market makers is going to lead to a very nasty correction in the near future which will leave many of these funds looking sick. The executives with their multi-million dollar parachutes will be ok however.