I have always been, and remain, in the camp that believes our woes are the result of a puffed up drunkard chairman and a peewee narcisist CEO whose behaviour has most of the hallmarks of a psycopath.
Who cares? Seriously, what is the difference to us if it is being done out of idiocy or by design? The end result will be essentially the same.
Qantas is not the only big Australian company going through a similar destruction of value at the hands of an idealogue board and an executive of MBa grads with no industry experience.
It could just be that there are more board chairs than responsible, sober candidates. It seems also to be true that an MBa absent industry experience is no guarantee of rational decisions.