Wing_Nut
Why do you talk down the value of pilots on the open market - QF pilots are not paid outrageous wages. They are paid a fair rate for the revenue returned by the aircraft types they fly and if you compare their rates with other international airlines then they look positively cheap. If you don't have pilot jobs with decent remuneration available in Australia then there will be a significant reduction in the number of young people prepared to risk investing $50,000+ in gaining the necessary qualifications to attain these jobs. Look at other high paying professions - do they have to fork out that much money to get their qualifications.
Back to the topic - Rationalisation of the QL operation is the only way to go as far as competing with the Virgin Blue operation. I only wish that management could look after their employees futures whilst they rationalise.