I don't know what you do with a airline that is such a integral part of the country, such a part of the history of the country. QF is not nor ever has been just a airline, its the National Carrier, the big fella, with a proud war history, one of the most prestige companies in the country.
Thats all well and good but when it comes to travel the budget traveller looks for price - where QF cannot compete (excluding Jetstar). The premium traveller looks for service - where too QF cannot compete.
Ask Australian citizens if they are ok with a Qantas tax that will be used to pay the QF salaries and support the organisation as is and all this nationalistic talk soon dies down.