There are some very good points from both Sunfish and Framer with which I agree.
Both safety and trust are important points of discussion.
The traveling public "presume" safety has been provided by the airline in complying with the regulators rules and then look for value in the fares advertised when planning to fly. They don't consider safety to be an issue unless it's highlighted in the media about defects reported.
Those who work in the industry know about the ongoing battle with airlines cost cutting and their cosy relations with the regulator undermine how safety is managed properly. The travelling public don't know about these things as they go about their own lives
So there is an element of blind trust until something goes wrong. That trust is the REAL issue.
Sunfish is right to say the staff don't trust Qantas management whose record of achievement is nothing of which they can be proud.
While Sunfish,his family and his friends would not fly Qantas, there are plenty of the travelling public that do, and will continue to fly if the price is right.
Being the national carrier doesn't hurt and a good many choose Qantas purely because of that, but they trust the airline will get them there safely and on time. Any added frills like points or upgrades are a bonus in their eyes
I fly with other airlines and Qantas if I have to for convenience, and accordingly, "measure the risk" as I don't trust them, period.