If international fares are too cheap and margins too little, how...

If international fares are too cheap and margins too little, how in hell is Qantas making so much money?? It's a duopoly in Australia, airfares are relatively expensive here due to lack of competition. Have you tried booking anything that is not on special?? Cheaper to fly to Asia than to fly within Australia. VA should be making money in this environment if managed properly. I hope JT is the guy to turn this around. JB should do what Fahour did at Auspost. Quit!