The future of Emirates?
With Etihad and Qatar playing dirty by taking on routes that are initially unprofitable, would you call that 'government subsidised'?
I am just thinking of Laker, when the British government allowed BA to operate at non-profitable prices in order to force the Skytrain provider out of business. Guess what? It worked!
Could Emirates become another Laker? Remember, Emirates is not a state airline, it is a public company responsible to the share holders.