I think the comment earlier about cutting membership by culling now retired senior businessmen would be the best way to go about it. That an getting rid of a few B-list celebrities.
Not everyone with CL membership necessarily controls a large Qantas account, though certainly those who do are invited in. But there are a lot of people in there who really hold no influence over people's QF spend, whether direct via a corporate account, or indirect (somebody like Alan Jones springs to mind in that example).
If Qantas are looking at ways to cut back, I'd think they'd start with these "has-beens" or perhaps "image only" members. For instance, I'm fairly surely somebody like Ian Thorpe would be a member, but just how much value having him there brings to QF is debatable.