The big picture
Analysts said that while the recent headlines out of corporate Australia did not make for good reading, there were reasons to remain upbeat about the outlook.
Record low interest rates, for instance, should help underpin economic growth next year, they added. The Reserve Bank of Australia's key interest rate is at 2.5 percent.
Credit ratings agency Standard & Poor's has said that the troubles facing Qantas and Holden should not be viewed as sign that the nation's economy is derailing, The Sydney Morning Herald reported on Monday.
Open for business?
Still, the government may need to do more to bolster business sentiment in the months ahead, analysts said.
Prime Minister Tony Abbott declared that Australia was "open for business" after his Liberal-National Party coalition swept to power in September. That view has been called into question after the government last month blocked a $2.6 billion takeover of Australia's GrainCorp by U.S. agribusiness giant Archer Daniels Midland.
(Read more: Australia spurns ADM's $2.6 billion GrainCorp takeover)
"There does appear to be less clarity about exactly how open to business we are," said HSBC's Bloxham.
In recent days Abbott has said the government was considering lifting foreign ownership restrictions for Qantas, according to Australian media.
Time will tell if such measures can help turn around the fortunes of the embattled airline.
"I wouldn't touch it [Qantas] with anyone's money. We've had it as a long-term avoid for as long as I can remember," said Walker at StocksInValue.com.au.
— By CNBC.Com's Dhara Ranasinghe; Follow her on Twitter @DharaCNBC