Fair points Capt K, however the problem is…..
Qantas is not afraid to make the hard decisions to succeed
Alan's definition of success is not shared by the majority of his employees.
Using your analogy of driving your competitor into the ground is not the basis that the majority of QF staff go to work for. Nor is it the 65% line in the sand bulls^&%T policy.
If that is indeed the basis for Joyce and Cliffords existence, well the problem grows even further.
If Joyce was a good leader, he would acknowledge Virgins presence and also that they have evolved into a viable competitor.
Joyce's fears have come to fruition, he can no longer act as he likes and be the bully boy, (like he did when he grounded the airline due to those pesky unions)
He has nothing in his ammunition stock piles to stop the decline. Cash was his source to destroy the opposition. Now that he can be matched as an equal on that front, well he's stuffed.
His 65% line in the sand will evaporate, if it hasn't already, he will continue to loose the high end corporate contracts, and his yield will continue to fall.
Why?
Because he is serving up a strategy and product that is complete rubbish.
The combined qantas group think of the "best two brand strategy in the world" won't lead to any recovery.
Recovery comes from acknowledging past mistakes and also acknowledging that senior managers, or "senior leaders" if you read the company spin, don't have all the answers.
Most of all, recovery requires hard work and dedication from the long suffering staff. Staff that are ready to do that, but sadly will never be embraced by the joyce/clifford bandwagon.
The government knows it, his employees know it as well.