"The Wizz of Oz". The female F/A's dress like Dorothy and all male employees the Tin Man. Boarding announcements to "follow the yellow brick road" will use jetways paved in yellow brick. The witch on the broomstick is the tail logo on a black background. Toto can be the company mascot used in all advertising. Dorothy's glittery slippers can only be worn by the Purser. Male or Female.
Rather than start an airline, why not help Etihad and Singapore Airlines by purchasing their shares in Virgin Australia? Benefits: no hassle with obtaining an AOC, a ready recognised name and an established network. I'm sure John Borghetti would be willing to discuss the matter with you.
Incidently, there is not an airline named Quantas but I would recommend against trying to register that name.