Whilst I admire the passion people here in this forum have for Qantas, the reality is the view in here does not reflect the view of the average punter in the community.
Globalization and the internet has changed the way our economies work. People now expect more for their dollar than ever before, and have more resources at their disposal than ever to be able to get the best deal for themselves. QF's slide into the predicament they are now in is not just as a result of management policy post-float (though no doubt it is a contributing factor). 30 years ago nearly one-in-two Australians flew QF international in terms of market share. Now that figure is less than one-in-five. QF's biggest problem is that people still love the brand - but are no longer prepared to pay the premium on the fares they once were.
The international carrier landscape ex-Oz is more diverse than ever. Fare structures are more competitive than ever. And whether we like it or not, we have to compare apples with oranges when it comes to competition - eg: Lower foreign labour costs, foreign govt. backed/owned airlines, etc. And the rise in the $USD has seen inbound tourism slump, which obviously knocks on to the QF domestic product, the cash cow of the group.
As someone who has worked in the industry for over 2 decades for several airlines, there are 2 obvious changes that must occur for the Qantas brand to have a chance of survival (and i say only a chance).
1. The Oz Fed govt MUST repeal the Qantas Sales Act to allow the company to access the availability of foreign capital. The Act was introduced in the dying days of 'Protectionist Australia' to ensure that the float was politically palatable. It is an antiquated piece of legislation that is now a noose around QF's neck.
2. The QF board/management must accept that they can have EITHER QF international OR Jetstar. It can't have both. It's obvious that these 2 products have been cannibalizing each other for far too long, and management have been fighting on far too many fronts for far too long trying to defend both these products, and using up far too much financial and employee capital in the process.
A combination of legislative repeal and an institutional share holder revolt to throw out the current board for its current strategy is most likely the only hope QF has.
I wish all at QF well. But if the status quo remains, I don't like your prospects