There is nothing inherently wrong with the concept of affordable safety. It is simply the efficient and safe economic review, rationalisation and risk management within what should be a regulated environment. "Affordable Safety" and risk management has been occurring in Australian industry for at least two decades during which OH&S and corporate legislation has been continually increased, including increased employer responsibilities and liabilities. The end result is that Australian industry remains competitive in a global market place.
CASA can not claim responsibility for the safety culture within Australian airlines and the aviation industry. After twenty two years CASA still can not provide a clear, simple and concise set of Regulations and their operational personnel are vastly inferior in qualifications and experience to their airline pilot peers whom they are supposed to be regulating - read the ICAO audit report and now the FAA report.
Australian airlines are intrinsically safe due to internal expertise and long term safety culture. But what will occur as those older, more experienced employees leave or retire? The number of incidents involving Australian Air Transport category aircraft in recent years is a stark reminder that the airlines are generally operating in a regulatory vacuum and that an airline tragedy of major proportions is becoming increasingly probable.