Mstr Caution,
I think you're right on the money there.
I was walking through the dessert yesterday and came across an oasis filled with beautiful women wearing Emirates uniforms (well it couldn't be Qantas). And I thought about 2011
There were no union officials saying we will "slow bake" the company
No protestors at the AGM
No go-slows / work to rule
No ambit claims put forward
No announced strikes forcing cancellations and disrupting lots of passengers and causing people to book on the competition
No intention from 30% of customers not to fly Qantas
Qantas was making massive profits in an extremely uncompetitive industry and could happily hand out Qantas stamped gold ingots to all customers
And then I remembered... ohh Joyce did ground the company for absolutely no reason. The Federal government levied massive fines on Qantas, the Board was sacked, Joyce was charged by the police for making a false complaint, and indeed the FWA found 100% in favour of the unions.
It was all about the share price.