It might not be as bad as all that (as far as the DUB route is concerned); UL has 2 active A340s and 4 A330s, which given the fall-off in traffic and the fact that traffic is being limited to SIN and DXB, might be as much as it needs right now.
I don't know if EK would be well advised to put its own aircraft in CMB, both because of the higher insurance premiums and the fact that it could use the aircraft a lot more efficiently from DXB.
I don't think UL's load factors will be too high for quite a while to come.