When....
the shots are being called by those who hold the purse strings but not a lot of airline business accumen, yes, it does look foolish. But is it?
GF looks set to contract (we are seeing in the daily rag already). There will be turmoil and with limited routes into more complex airspace, and a surplus of local (cheaper) labor, less requirement for expats.
Nationalistic labour demands will prevail as long as the Gubment is paying the bill and/or supplement. No shortage of the former as long as the latter exists = jobs programme.
Hopefully the new model, whatever that looks like in weeks/months or possibly years to come, will result in GF managing to at least break even with smaller airframes pulling full loads to the nearish end of the envelope, and the handfull of 330's, possibly with expats up front.
Then, and only then, would expansion be warranted.
It may be too late by then, or not, you just never know. Stranger things have happened, and it's all about money, and timing.
UAE/Doha is booming but I always look at these things in a long view. Always room for a newbie or in GF's case, a refreshed up'n'comer. Maybe not good news for those who need/or need to keep a job now, and trust me I like me expats up front, but I sense contraction, suffering, rebuilding and then, if anyone has a brain, resurgence.