Lets get out the yardstick and compare:
Singapore Airlines No. 3 in the World. Population 5 mill planes 105
Cathay Pacific No. 6 in the World. Population 7 mill planes 136
Qantas No. 10 in the World. Population 23 mill planes 143

Seems to me some airlines are better at managing their business than others? Both Hong Kong and Singapore have no natural resources whatsoever to contribute to their country's wealth.

About time Irish went and his Board. There is absolutely no reason, with the right leadership, that Qantas couldn't survive and prosper.