Anyway we decided to stick with Qantas and gamble that the company stays solvent. They've certainly been doing it tough with the increased competition and GFC - my BIL had a senior management position with them until recently when he was sacked along with 90% of their upper management.
However, I , personally, don't think they'll go under - as our National carrier I can't really imagine the government letting them fall over. I suspect that if they were in real trouble the govt would bail them out the way the NZ govt bailed out Air NZ a few years back. Maybe I'm optimistic but , who knows?
Of course, we run the risk of them suddenly deciding to make major changes to the Frequent Flyer system that devalues our points, but up till now, they've always given plenty of warning of changes - so we'd just cash in our points on a flight to somewhere nice if we felt seriously threatened
Andona