Amp is correct in most of what he says.
The board does entirely set the agenda, with the expectation of people at CN's level ordering the execution of said agenda, and indeed nobody wins when the airline loses business.
However, this is not random planning from the board, it is a strategic and well planned agenda (they have had since 2008 to regroup) with input from many facets of the industrial relations arena.
Do not for a minute think that QF have given up on their plans to reduce terms and conditions of LAME's due to the last debacle, they are merely going down another track.
GB