BS - Qantas domestic is very profitable including QantasLink. So "Qantas" is not unviable. And I would argue that all of international operations are not viable. I believe the reality is that the returns are not acceptable as a result of heavy discounting and over-capacity, as well as disadvantages Qantas suffers as a result of its geographical position, un-balanced "playing field" and economical variables...
I'd also like to review Qantas's ASK's to determine if they really have "shrunk" as everyone seems to allude. I don't believe they have.