And look at the Australian International Shipping Industry. In marginal industries that are globally competitive the cheapest country, ie flag of convenience wins -- and its not just wages - its the whole gamut -- taxes, depreciation, airport and landing charges, government route rights and efficiency and practices.
At the moment QFi is behind the eight ball on a hell of a lot of those 'controllable' measures.
Thank goodness there is an Australian Domestic Airline Industry, otherwise the International Industry wouldn't exist. The more Tiger,Virgin (and indeed Jetstar) grow the less chance of QFi surviving.
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Whilst the grounding was damaging so were the on again-off again strikes (admittedly not pilots, but frankly on the timing all on the same bunch)... I know a number of large companies who were shifting important flights completely to Virgin, not willing to risk a strike and cancellation response - without the shutdown there was a risk these clients were lost for good --- they are all back with Qantas... Short term expense traded for long term revenue -- any day of the week.
... a rationalist and a QF shareholder...(at $0.95)