There is no quicker way of generating demoralisation in an organisation than saying "we need to get rid of 20% of our staff, and have just sold 20% of our assets in a bid to stay alive". At that stage, the brightest and the best head for the door, just hoping that the firm stays solvent for long enough for them to collect (some or all of) what they are owed.
The big silence on this thread comes from the brightest and the best deserting the forum and concentrating on polishing up their cv's and writing to (or visiting) prospective employers.
It is sad to see this happening to what was once one of the best airline companies in the Middle East. It is a truism in business that a company either rises or falls: you cannot just just remain in the same place commercially (staying in the same spot is in fact the start of a fall).