I am afraid that The Board and Senior Management of Qantas are about to learn a lesson I learned on about the Third day of my first job as a General Manager of a company:
Your employees can make more trouble for you, then you can for them.
Trust me on this.
Manage as if you were on the bottom of the pyramid, not the top. It's safer and ultimately more satisfying as long as you aren't a narcissist.
I have a friend who was at one stage a Director of a major bank I asked her what her secret of good management was: "I create the conditions where other people can succeed at what they must do." was her answer. If you drive that message "down" (up?) through management ranks, your business is automatically successful and profitable.
P.S. Let me tell you what will kill Qantas: Employee turnover. It may not even be turnover within the Qantas organisation, it may be in one of the outsourced services.