Morale at an all time low? Not by a long way. 5 years ago maybe, but apart from the usual suspects posting on the ME forum, the majority of pilots are content generally.
The cabin crew are somewhat different. The turnover is high for several reasons. Firstly, it's an expat job. Very few will join with a 15-20 year career in mind, unlike those at BA or anyone working in their home country. It will always be to many an opportunity to see the World for 3-6 years then return home and settle down. This is especially so for those from Western countries. Those from Asia/Africa tend to stay longer for the simple reason that their job is very well paid compared to what they could achieve at home and their salary often supports their immediate and sometimes extended family. Many are degree qualified and are doctors, lawyers but can still earn more here than their native country.
The second reason is their working conditions. There is no union here and never will be. Because of that, senior managers can and do treat crew with what I'd call less than basic respect at times. I've witnessed it myself directly, not always and not from all managers but some nonetheless. There is not always the support for crew either when it comes to passenger complaints. Unfortunately, a certain nationality who we carry a lot of know this and complain about the slightest thing. Please don't wobble your head as you agree! 120 hour months with 8-9 days off may not be uncommon at times with crew promotions after 6 month trials operating in a higher position without full pay.
So yes, these are the reasons why BA and other legacy carriers need to move away from costly contracts and change terms and conditions if they wish to survive.
Finally, as for Dubai being expensive, it's mainly housing that makes it so. Fuel is 1/5 the price of the UK, taxi's are cheap and lots of deals at hotels offering crew discounts. Female crew can quite easily go out throughout the week and not pay a dime with many hotel bars offering free drinks on certain nights.
There isn't the long term loyalty here that you may find in BA I agree, particularly amongst those with a shorter career viewpoint. However, this actually suits EK's image to recruit young, attractive and enthusiastic crew rather than having some grumpy and miserable 50-55 year old waddling up the narrow isles in her size 18 skirt!
Now that's quality!
Harry