If your loan is able to be cleared with the Provident Fund, it can't be THAT sizeable...so having said that, why not apply for a loan from outside of the UAE, use that to pay of your UAE loan, then pay off the second loan with the PF once safely away from the loving embrace of Emirates Airline?
Surely qualifying for a bridge loan should be possible, while demonstrating employment at EK, and the PF as collateral? Even if the rates of the second loan were usurious, you would only have to hold it for a very short term.
A major, major Life Rule is never willfully put yourself in a position where monetary circumstances will give your employer undue control over your life. (Which leads me to question why anyone would join EK with the shackles of the present bond terms, but that's another topic).