carbonneutral and Em777ER, you've finally taken us to the point!
There is nothing to stop Qantas from employing foreign/other pilots and basing them overseas
The job security clauses do not provide job security, because the document (LHCA) is only valid for an Australian based company. QantasAsia - or whatever it may be called - if wholly incorporated overseas, may be completely independent from Australian industrial law in the same way that Jetstar Asia, and Jetstar NZ is...
Unfortunately, that's the key battle here.