"Zapatas Blood- NONE of them operate longer than 5 hours sectors because there is no yield! And if you want to talk about conditions for pilots then B737 pilots at Southwest are the highest paid B737 pilots in the United States!"
All interesting and generally incorrect points you make however, bottom line is the day of the legacy carrier is over and capital markets LOVE lower cost or LCC or new entrant or boutique carriers, call them what you will but until QF shows some serious labor reform, they will struggle to move forward.
MOST western legacy carriers have either been rebuilt with lower operating costs, been recapitalsied by their host government or been taken over by another legacy carrier or gone broke.