ACARS,
as a wise man once said;"better to die on your feet than to live on your knees".
Either we stand up for ourselves to try and maintain our standard of living, or we all might as well look for other work anyway. What's the point in banging your head against the qantas brick wall year after year and then see your living standards going backwards in the process. Don't forget the efficiencies that we're still giving up for this 5%. We're not even being offered 3% for nothing.
Sorry, but this CEO has been crying wolf (9/11, SARS, asian economic crisis, bird flu, etc) too often and now his chickens are coming home to roost.