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The simple answer to turning mainline around is putting 787's on routes instead of the cancer getting 'em.
The simple answer to turning mainline around now is putting 777's on routes instead of waiting for 787s which may turn out to be lemons (if they ever arrive).
The problem is they can't afford to buy them having bet the farm on the whale and the plastic fantastic.
They have also said publicly on numberous occasions that it's not the right aircraft for Qantas (even though darth said publicly it'd be nice to have them circa 2008). They can't be seen to have made a mistake. They are the worlds best airline management team. In fact they are so good, when negotiating with other airlines they are using their 'expertise' and 'systems' as a resource to bid with instead of capital. Good grief. Not even a bankrupt airline would do a deal like that!
Lasty they can't get old of them because there is such a long wait list.