...And when the AUD goes UP the cost of jet fuel in USD goes DOWN, then there are all those spare parts and consumables that get cheaper as well. Then there are the capital costs of the aircraft and borrowings, their cost in AUD just went down as well.
All this stuff is supposed to be taken care of by the Qantas Treasury who would be hedging everything.
To put that another way, when the AUD appreciated by 10%, does Qantas cut its prices by 10%?
Of course not, it just howls to the media about how expensive Australian staff are...