Camel Squadron,
747 carries 25 extra business class seats over the 777-300.
Thats $87.5k extra revenue per flight. Daily return flights = up to $64m pa in extra revenue.
Using your Mel, Syd, Bris example would equal up to $192m per year in extra revenue.
Thats before even considering that the 747's have no remaining capital value whereas the 777 would cost as much as $300m each which needs to recouped. Lets keep it real simple, 6 777, 15 year life = $120m in capital costs per year that need to be recouped on a straight line basis ignoring the time value of money.
Couldn't agree more - but the 744s were never going to fly forever! The complete lack of foresight has put QFI in this position. 25 less J seats would also raise the premium for those seats. Between the fuel, engineering and crew savings it's hard to ignore - the 777 is the same endorsement as the 787 for flight crew, could've saved a bunch there too - who paid for the 787 "introduction costs" in the last financial results...