International
.When the Australian dollar is weaker International historically performs very well with increased international inbound tourists visiting Australia. Cost base is also very competitive. Dixon always said that it acts as a shock absorber in times especially when the Australian economy is weaker.
International struggled after 2008 till 2014 for many reasons. Primarily the high Australian Dollar and sky high fuel prices, with close to the oldest fleet in the world. Gareth Evans actually said it was the perfect storm.
.International is essential in having a reliable source of feed to Domestic operations and Jetstar. Remove it and you starve it of much of its feed.
EK flies to every capital city except Darwin,Cairns and Hobart so it's feed into QF domestic is negligible. Hence Qantas International is vital in order to feed QF and JQ domestic with certainty.
.The majority of Frequent Flyer points are earned Domestically but redeemed and desired on QF international routes. Look at the business and first upgrade requests on any Qantas flights to LHR,LAX, DXB,DFW,HNL,SFO,SIN, HKG etc. Hence the very profitable FF business is dependent on QF International. The frequent flyer program is not desirable or sustainable without a decent Qantas International
.In summary the International part of the business is as small as it can be now.