“The decision to ground the airline without notice was bizarre and extremely damaging to the company’s reputation and the country’s economy. It is fortunate that Australia has an industrial relations tribunal with sufficient power to reverse that decision, and force the company into proper talks with the unions representing its workforce,” said ITUC General Secretary Sharan Burrow.

The tribunal ruling means the company and the unions have an initial 21 days to negotiate an agreement on the issues in dispute. If no settlement is reached, Fair Work Australia would then launch a compulsory arbitration process.

“QANTAS has so far refused to enter genuine negotiations while the feeling of insecurity within its workforce continues to grow. The management must now negotiate in good faith, and address the legitimate concerns of its employees instead of focusing only on generating instant super-profits for its big shareholders,” said Burrow.

The largest shareholder in QANTAS, with more than 20% of the shares, is US banking giant JP Morgan. Having received a US$25bn taxpayer bailout in 2008, JP Morgan remains a leading player in global financial speculation. Through its membership of the US “Financial Services Roundtable”, it has been a key contributor to corporate lobbying against improved union rights for American workers.