1. QANTAS sorts itself out and returns to profitability.
As previously stated QF is profitable.
2. QANTAS doesn't sort itself out and goes bust.
Do you really believe an airline on the brink of going bust would be investing big dollars on the operation. $40M for the new check-in & bag tag facilities in Perth for example.
3. Government steps in with a bail out, probably with unpopular conditions attached.
Why the need for a bail out for a profitable airline?
Just look across the road and see how long it takes to get a promotion...
There are both positive & negative aspects to fast tracked promotions from a business point of view.