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As Gough Whitlam allegedly said: "Being made a Director of Qantas is the Australian equivalent of becoming a member of the House of Lords". The strategic capability of the Board - picking the A380, not picking the B777 and of course the APA bid demonstrate a less than stellar understanding of the role their lordships were required to fill.
and let's not forget shutting the airline down when not even the Japs could achieve that during WWII.