Don't confuse the business plans of the ME carriers and that of SQ/Tiger.
The heavily subsidized ME carriers have created a lot of Aus-Europe traffic, helped along by the strong A$.
The Australian had a great article yesterday on the Chindia economic revolution and Australia's dependence on it. That's the market that SQ is poised to tap. JQ to Buchanan's credit is also trying to do this, but will probably be stopped by the myopic attitude of Australian organized labour.
No doubt we will argue and fight using our Euro-centric logic that for some reason we deserve European/American wages, when our economy is dependent on Asia and all our competitors are based there.
I'm glad my kids are not in aviation, sadly Australian aviation is probably headed the way of Carreier Pigeon.