If there is any money/useful position to be made from it then I imagine SIA would love to offer a management contract to Gulf Air.
Having worked a considerable length of time with both airlines I can realisitcally say that the Flight Deck and Cabin Crew have nothing to fear should such a management contract become reality.
On the other hand there are several hundred others in what they perceive as 'safe jobs' who might wish to consider an alternative career!