The issue for me is whether many of the QF international routes can ever make a decent return.
Two schools of thought:-
1) You will never make "a decent return" from aviation. Sell your shares now and buy RIO now that Clifford has left.
2) Making money from aviation (poor returns, but still making money) depends on your network. To get people flying on your high yield sectors you need to feed them from other sectors that might only be breaking even.
P.S. The public will stop travelling with you when you sell them a QF ticket and put them on a JQ service.