"To continue to realise the value in Qantas Loyalty, we will be innovating, investing, working closely with our partners, and rewarding the loyalty of our customers with even more ways to earn and redeem Qantas points."
I imagine "our partners" include those members of the OneWorld alliance; however, having just restructured the points and Status Credit value for flying with those partners (which you have to do if you want to go to various European cities (and not fly EK) or even SE Asia and the Americas), how is that "rewarding the loyalty of our customers"?
Australopithicus: I had the same idea as you - the average punter will see in glaring headlines $2.84M loss and choose another airline. Why would you buy a QF ticket if you think you might get to LAX or LHR then the airline folds before you get home?
It's all doublespeak. George Orwell would be envious.