Have a look at this fellas.
Qantas vs POO.
The POO seems to have bugger all to do with the performance of Qantas and its SP while other economic factors at times have them rising and falling in sync. This can be applied to other airlines too. Seems obvious to me that Airlines wont die and if things head in that direction they will be bailed out just like the banks. There is no way Governments would let things slide back 100 years and if they were unable to prop them up the health of Airlines would be the least of our worries.