I agree, as I said, the skilled workers will find their own level. Where Qantas costs are out of control are in the areas where you DON'T need to pay high wages (include managers there). I also agree that management have been bordering on negligent in their running of the airline over the past few years.
The concept of Jetstar was a valid one to give Qantas a market share in the low cost sector preventing Virgin from dominating that area (it worked, Virgin gave up and decided at great cost to reposition back to full service).
Where they failed is that while they developed Jetstar they have allowed Qantas to flounder with old equipment and flawed route strategies. It is a shame as Qantas had a great brand to develop, there was no reason why both entities couldn't exist and compliment each other. I