The ME is just happens to be well placed geographically - in the centre of a lot of people. It is a bridge from one side of the world to another and ALL the airlines here rely on that fact for their success.
There is NO DOUBT that this region can sustain all of the orders they have placed - well, at least nod oubt in my mind - especially considering the cost of fuel now and in the future.
Some will suceed in the ME and some will fail or reduce in size. The only way they can all continue is if the governments continue to throw money at them and, I would think, at some point even the wealthy will stop throwing money away.
Will be an interesting decade!!!!!
As for BA etc. They don't stand a chance. The service on the ME carriers is far superior to anything that Europe or NA can offer. I wouldn't bother paying for a ticket on any of those carriers to only be ignored, served poor food and generally be mistreated. All of the ME airlines offer great service and it is something no one can seem to match in the West.