For the record, AIPA was informed by its own lawyers:
'We have no information as to what led AIPA COM to see the discontinuance of the proceeding as being advantageous to AIPA or Qantas Pilots. Both Senior Counsel retained by you and (we believe) Qantas Airways Limited were of the view that the proceeding if left on foot would be likely to succeed.'
AIPA pulled the case the night before the scheduled hearing.
As Keg has said:
..there wasn't a quorum so it'll be fought another day. Whether it was indeed the 'last chance' is something that only hind sight will show...