They have a virtual monopoly on the corporate market. At the peak times of Monday morning and Friday evening seats can go for A$300-$A400 or more one way for an economy class seat on a 737 for a 55 minute flight.
I think membership of the Qantas club has a lot to do with this, and the fact that it's a Oneworld membership. See my comment in this thread about doing MEL-CBR; I was doing that weekly, got Platinum, and am I loyal to Qantas? Sure as shit I am, I can buy an economy ticket to see my family back in the UK and get access to the international First Class lounges.
Also the fact is that the Business lounge at CBR is practically an extension of the office from 5-7pm. Everyone you know is there.
I wonder how much of their business is a result of QF selectively giving membership to the Chairmans' Lounge? It would surely mean a lot of revenue is steered / kept their way through travel policies.
Do any other airlines have an equivalent to CL? I assume the greater availability of private jets in the US rules it out there.
I don't know, I think the general preferences of a lot of people count for more. I mean, you only have two realistic choices for business: Qantas or Virgin. A friend of mine chose Virgin, for whatever reason, and he tells us their lounges are as nice if not more so than Qantas'... but still he wishes he'd chosen Qantas.
They've got just enough of an edge, plus the whole tie-in to the global Oneworld program. Our company's Chairman is a member of the CL, but AFAIK if I requested a Virgin flight that wouldn't be an issue.
Also the fact is that the Business lounge at CBR is practically an extension of the office from 5-7pm. Everyone you know is there.