"QFi's problems are high costs relative to pretty much every other airline in the world - this is a geographic problem and very difficult to fix, albeit the position can be improved".
True, but Air New Zealand is in an even worse Geographic position, but manages a tidy profit.
Could it be their sensible regulatory system allows them to operate "much as every other airline in the world" thus being able to compete on a more level playing field.
What is the price Australia pays for its unique, prescriptive, costly regulations that do nothing to improve or even promote "Safety"?