Like it or not, the "open skies" are here to stay. The ATO's aircraft depreciation policies may be an area of comprimised competitiveness though.
All the engineers I know working over in the sand pit are getting paid quite well and the airlines they work for seem to be growing OK too.
Offshoring is just another way to help the pr1cks running QF line their pockets further.
The success of QF in the future will be what built it. Aussie pilots, Aussie engineers and Aussie cabin crew etc. And an Aussie CEO that has the intestinal fortitude to make the right decisions to get us back to what we once were: A great AUSTRALIAN airline with engaged employees and a focus on safety and service. That's our niche.