Only logical major player that would have an interest in running an airline maybe EK.
I mostly agree. No doubt Emirates want to see a strong Qantas domestic for feeder traffic and to also be a competitor to Etihad/Virgin.
If they had the right to buy, the timing was right and the price was right, I can see a very strong possibility of an Emirates buy out of Qantas.
The timing is right with Virgin showing the way to do it and action needed before Virgin become too strong. The price is going in the right direction. All they need is the Sale Act to be changed.
They could sell off the Qantas Frequent Flyer business (why would they need it), sell off Jetstar if they wanted. And probably recoup their initial outlay in the process.
An alternative may be a foreign private equity bid (free of the Sales Act) which would also split the business and maybe sell Qantas domestic to Emirates.