As Will mentioned Qantas does not have the passenger base to justify many of the European routes it has served in the past, coupled with the fact that these ports would be double hops from Australia. The likes of SQ, TG, EK etc more or less have the European market sewn up because A) they better access to the passenger numbers to justify the flights and are better placed geographicly. So no aircraft, 777, A350 or 787 makes sense for Qantas to serve these routes.
The growth area's weather we like it or not are China and India, so makes sense to be putting money into these area's. Ineed grow these area's then it may be possible that Qantas will have access to the passenger base to justify flying towards Europe, but not at present.
As for Joyces pay, again everyone seems to be ignoring the fact he has taken a 10% cash pay cut and to get the "massive" package performance targets need to be met.
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