The demand will come back.... May not be immediately, but once enough people have the vaccine in their veins the economy will start to rebound and the double decker bogan buses will start to fill again.
even with fledgling demand, the ME3 will do what they do best - dump endless amounts of capacity onto the global market in a prolonged route war with the big players in EU/NA. Point to point is cool - but price point always wins. The bulk of travellers won’t have any qualms about paying bargain basement prices, enabled by the soon to be savagely reduced T’s & C’s of EK staff.....as long as the IFE has thousands of movies.
the government has always had to bankroll its airlines for prolonged periods of time to avoid the shame of one of them going under.....don’t think the next ten years will be any different.