The recent collapses and mergers in the airline industry imply survival is becoming increasingly difficult. Sadly history tells us only the strongest will stay.
With a population of only 22 million I can't see all OZ airlines cruise through the upcoming economic downturn, exacerbated by the subprime crisis. Banks are not as willing to lend money to keep you above water, and personally I think only QF/JQ will be around in a few years' time.