Nev, pilots and cabin crew cannot go overseas and get QF salaries with their competitors. Businesses like EK are run with a far smaller bureaucracy and at much less cost than QF. Just about the entire administrative element of EK are sub-continental nationals earning a very average wage, less than $US 20 000 a year, and that's the high side. Caterers would earn less than $US10 000.
QF's competitors employ hosties from Asia at one quarter of the cost.
Pilot wages, particularly at the current exchange rate, are less. Tax free environments make a big difference, but don't come from the companies bottom line.
These companies don't have to work within the same industrial and political situations as QF without doubt but some of the hope for turning around QF International must come from lowered costs by trimming the QF bureaucracy. It is a legacy of the days of government ownership. Have a look at the number of employees per aeroplane compared to your competitors.
Teresa, I don't personally see QF as having some ongoing legacy as Australia's only airline. Kingsford Smith's ANA preceded them. Things change.