Your model assumes that the "smoking hole" in the ground would occur before the airline goes out of business.
If Qantas wants to be just another LCC like the others, then what niche do they have to capture the market??? A/ Nothing!!
A few years back QF employed a surveyor to analyse what attracted customers to an airline. Apparently the answer was "on time performance". Safety was way down on the list. (I know this because they invested thousands on "change management programs", and the ppl running them tried to drum this into our head).
Since then we have seen outsourcing of maintenance (as management now see us as a waste of money), the many quality lapses as a result (and a great majority the public would not be aware of), managers walking around tagging us as below "world's best practice" whilst stating that safety is now a given, and co-incidently a loss of market share of Australian travellers.
If we had any management that new what they were doing, they wouldn't be wasting money on these so called analysts that are giving them all the wrong answers.
As standards keep slipping we will soon be on par with every other Joe Blow flying tins cans out of an airport.