Here's an idea Mr Dixon. Why not just pay the current loyal engineers what you are prepared to pay the unknown scabs? Clearly, as QF are now offering this salary, you must believe it to be the industry norm.
100k for 6m or 200k for 12m. Perhaps as a sign of goodwill, the current engineers might like to offer themselves to QF an even more attractive salary deal for the airline, say $199 /year.
Problem solved.
Bit more than a 5% rise but you guys are worth it.