Ordinarily the thrust is reversed on the jet engines, but the because the question is about the Qantas Jet Emergency Landing I suspect that the thrust was not reversed, at least initially. If you pay attention when landing the thrust is only reversed once all of the wheels touch down on the ground. Reversing thrust in midair is extremely dangerous and makes the plane much harder to control.
Reverse thrust for an emergency landing is probably more dangerous than a slightly higher speed. The Qantas plane knew that it had a hydraulic leak making the use of reverse thrust particularly risky because of the chance of losing the ability to control the rudder, ailerons, and flaps.
According to the Federal Aviation Administration, an airplane uses a thrust reverser device in the engine exhaust system, along with the brakes, to slow the speed of the plane.
Reverse thurst is only deployed once all wheels are on the ground and the plane is rolling out down the runway. Applying reverse thrust while still in the air will probably lead to a sudden and drastic loss of control and altitude. In some airplanes (if not all), reverse thrust is engineered not to deploy until sensors in the landing gears detect that the plane has touched down (and the weight is borne by the landing gears).
Flaps are used on approach to destination airport (flaps are also used on takeoff but in a different manner) to allow the plane to reduce its airspeed but still maintain good flight control, lift, and plane attitude (the plane's orientation on all 3 axes of space). I don't see any reference or mention re: reverse thrust and whether it was or wasn't applied in the particular incident that you were referring to.
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