Sunfish,
Qantas is a lot more viable today than it was a few years ago because of the management.
To successfully spin off a low cost carrier (Jetstar) was a masterstroke, given the disastrous results met by KLM and British Airways (?) when they tried the same thing.
A declining share price is not necessarily an indication of poor management. I believe that the Qantas management is excellent and wish that GD was in charge of my company!