Yep the Costco vs Walmart debate has been done on here before. Wall Street don't particularly like Costco saying that they are too generous to their staff.
This is the great divide. Costco looks after its employees who look after its customers. Qantas looks after it's shareholders. I guess which is the better approach is up for debate.
The thing to remember as a company is that when times get tough you may need to rely on the goodwill of the staff. This is something that Southwest and Costco have. People will go the extra mile for you. People in Southwest have even been known to come in on their days off or stay behind for free. I have the impression that this doesn't really exist in QF anymore.