Qantas is one of the few airlines that are posting profits, whereas most other airlines are posting losses... look into Asia / America / Europe, low cost airlines are posting losses.
Yes it 'does' matter what other companies are doing, most of them the market value is sliding downwards, thanks to the 'economic' crisis.
Qantas to compare with VBA, is huge, operations are spread around to regional / domestic & international... They are the only ones with a good brand of business seats etc, have got already fully depreciable assets etc...
As I said, its a concern that
VB posted a loss... the writing is not on the wall for VBA for a while...
If next financial performance they post even a bigger loss than yes, the ****e is going to get bigger and bigger.