Yeah you're right. Loads of news articles and threads about it here and on other forums.

It's the board's strategy to screw up the airline (for now).

Step 1: Take as much as you can from loyal customers, destroy decades of goodwill, see how much you can pillage from customers.

Step 2: Put new KPI's in place that are measured on 'customer satisfaction' and increased premium yields. Shareholders support this above profits as long term goal.

Step 3: Say sorry and promise to improve the business, lure back previously loyal customers with gifts, discounts and free upgrades.

Step 4: Cash in record performance bonus. Continue to sell 'revised direction' strategy to board and shareholders.

It's been done 100x over... there's no other reason for it unless QF is changing direction to become a LCC.