As someone who has gone through the emotionally wrenching experience of a furlough and a major airline bankruptcy restructuring (after being willing to bet every last centavo that the airline was as good as history) I greet this news with some concern, but not too much worry.
It is not that I am apathetic. I just don't see any point of panicking right now. Sure, it is Ramadan and instead of heading out to BJ's or JJ's on your next evening off take the opportunity to update your resume but . . .
Who realistically expected James Hogan to stay around forever? These management types typically come in, do some trouble-shooting and then move on to new projects. Gulf Air is arguebly in better shape now since Hogan did some transformations than before he came, although I guess one could start a bar fight with that comment.
The way I understand it, some $800 million is there for a fleet renewal, just a question of when they announce it. The fleet is run efficiently-- not too many 3 hour ground times or dark and cold airplanes sitting around on remote stands at night. We constantly rate highly amongst travellers and receive industry awards. We have a lot of the right elements in place, the problem, is that we compete against airlines that are not efficient but heavily subsidized.
However, there is no "winning" in airline competition like winning on a battlefield. The objective is to consistantly perform well and make money at the end of the day. A number of curve-balls have been thrown GF's way in the last few years but the essentials, I believe, are there (at least I don't think they other GCC carriers have something that we don't).
If that isn't all something to be be optimistic about, consider this. Under the current environment, each country in the GCC seems to want to have it's carrier. Even if the airline were to be downsized (not likely, IMHO) it will always be around. GF's focus on being independent and running like a real corporation (being profitable) only makes it easier for the powerful interests that want an airline in their back yard that be to continue to support us because we are not as much of a drain on the national treasury. If it takes from time a little puff from government to keep the sailboat going down the stream, so be it.
I really do not believe I will be furloughed or looking at GF in bankruptcy protection anytime soon. That alone is something to be optimistic about.
Finally, why worry about something that we have no control over? Hogan has just left, and I hear we should have new leadership by November or December. So lets see what happens with that before starting to worry too much.