This was done many years ago with SQ, and the howls of complaint could be head from afar.
However, SQ had (and has, now) a very good credit rating.
Somehow...EK/EY and especially GF will have a slight problem.
Bahrain and Dubai are deeply in debt, and this is not likely to change anytime soon.
At all three aforementioned carriers, look for salaries to be kept firmly in check, with the excuse...'we can't afford more'.