Sorry to admit Burrito, the end of Capitalist Economies Scenarios is beyond my pay grade. Making sense of the airline industry is hard enough.
Closer to home, it would seem from what is going down, that in order for Qantas to survive what is on the way, the Company will first have to make Qantas and Jetstar independent and then merge Jetstar with another LCC and Qantas with another Legacy Carrier.
Changes to the Qantas Sale Act permitting, achieving this may save the day, but until the warring stops and all concerned start talking constructively, Management and the Unions are just 'fiddling while Rome burns'.