Woodie,
Totally agree with you except that your salary figures are conservative. Accurate enough for tech crew but the blunties chucking bags in the desert earning Oz $500 a month is more like a tenth of what QF has to pay. Same for most of the "lower" grades at the airport in Dubai.
Aircraft purchase price is also lower at EK. I know for a fact that EK pays less for a 380 than for a 777-300ER! Utilisation is higher too. Every time you land at LHR you can see multiple QF jets on remote parking half the day. EK don't ever let the oil cool down.
Unionised crew spend twice as long per layover tthan EK crew, requiring twice as many bodies and doubling the salary, allowances, and hotel costs.
Blind Freddie can see where this is going....
MW.