Who really knows what is going to happen, except Geoff Dixon and the QF Board?
The way they are going, my long term prediction is that the QF hierachy are planning to ease "Australian Airlines" along with its Impulse subsidiary back into the domestic scene with cheaper labour to cover costs for cheaper fares. How else would they be able to compete against Virgin who pay their pilots and FAs significantly less than QF employees and are expanding day by day? This will further reduce loads on QF while trying to compete in a discount market.
Ultimately, this will mean phasing out QF domestic all together and maybe some of the other subsidiaries where overheads (read pilot and flight attendant salaries) outway returns on operating costs.
The game has changed and cheap air fares are here to stay. If you pay your employees more than you get in return, then you are going to go broke.
Therefore, I would say that Australian Airlines, Impulse and even NJS would have a reasonable future because they don't plan to pay exorbidant wages like QF do at present.
Well that's my assessment as an "old" guy with over 40 years in the industry, where I have seen many changes since Reg Ansett bought out our other overseas airline Australian National Airways (many didn't know that it travelled overseas in support of Cathay and BPAC).