Qantas management were handed a fully functioning airline, all assets paid for and structures in place. They didn't have to lift a finger to start from scratch like most entrepreneurs. It was floated and almost immediately they started bleating about the unfair competition they received from foreign-government owned airlines!
Kind of like the current government. Handed a fully functional country with a budget surplus, a working asylum seeker policy..... and so on!!!
So I wouldn't count on them to fix anything. Not that the opposition could do any better.