Technique may be stupid but it is in practice, particularly in post 2008 GFC corporate world. I know a major corporation which layoffs few employees every week and reorgs randomly (Director becomes Admin Asst ...) just to improve productivity. No employee is safe.
US carriers prior to 9/11 were spending lavishly, now keeping cash under the mattress.
Even though Emir provided excellent access to finances and unprecedented ASAs for such a long period even when world economy was down, Sir committed two(among several) biggest blunders 1) Buying only large planes 2) Treating core employees badly. Both are irreversible in short term and there is no long term in this business.
Any other airline(including state owned) executive will get on their knees to get that much of cash/debt through owners. But Sir blew it.