Call me a pessimist, but i remember a very similar story last year. Gulf Air to get x# of millions of BD injected, iminent fleet renewal etc etc....and nothing happened. Bahrain owning the airline is a great step, and a necessary one, it's been a bitter divorce process over the last few years and GF has suffered for it. Lets see how long it actually takes to implement change.
and for IB sake i hope the rumours of 747 are false...have you seen him trying to climb the stairs into the 76? imagine if he had to do another set up to the flight deck...