The GCAA had previously grounded the 727s for dodgy maintenance being performed on them in Iran. They've been sitting in front of the old Royal Flight hangars without moving for quite some time, so I assume that they are grounded again (the upcoming GCAA ban on aircraft over 25 years of age would have knocked them out anyway if it goes through). I don't believe the flight crew are around any more (ex MEA drivers).
Al Rais announced they will be leasing two 767s for "expanded" operations.