Although a viable but undesireable solution, I will disagree with that one. There is way too much collateral damage to Bahrain.
I think there is still some very good and viable options.
GF will certainly need to think outside the box for it though. One possible solution I can think of that is in line with the CEO's thinking with regards to merging with others. Who might be a good partner?
I'm going out on a limb to suggest Iraq.
What? Am I out of my mind? But think on it a minute.
Iraq does not have a 'real' airline. Whatever they have lacks infrastructure, international clout, experience, exposure and network.
They have a lot of money which could be well spent in reestablishing international ties. It is a well known fact that an essential catalyst to peace, prosperity and stability is an international carrier. They have nothing to lose on this one.
GF will benefit greatly from having a base closer to Europe and indeed one that will be greatly utilised in Iraqs journey to normalcy.
A gamble but one very much worth exploring I think.