surely not:
you must belong to the group you just described. If you take the "typical" flight that I stated in #38, and make a few assumptions adjusted to local conditions give and take.
Fuel: 98 - assume same
Labour:95 - assume 40
A/c ownership: 25 - maybe same but with government guarantees on lease probably 20
Non-A/c ownership: 17 - terminals etc assume discounted usage 10
Non-emploee labour: 32 - handling agents etc assume 15
Partners & merchants: 54 - assume same but probably less
Interest: 12 - assume same
other airline exp: 27 - assume 20
Taxes: 75 - assume 0
Misc: 37 - assume 30
Profit: 34 - interestingly this comes to 195 almost 6 times better margin.
With such a cost advantage over western airlines there is no doubt that any GCC airline (GF? not) will be competitive even under the most difficult conditions. Even with pi$$ poor management.
However, if you look east there is competition from CX, SQ etc, but again they also have hefty tax breaks and subsidies, but not as generous as GCC.