I think after this pandemic is over, we might see Emirates moving away from widebody only model. The will learn so many lessons from this recessions. Tim Clark said that this is the worst recession Emirates is facing in its entire history.
Emirates capacity problems started when they have phased out the A330-200.
COVID-19 is hitting right after EK admitted the A380 had no future and canceled 39 orders and went in the direction of A350 and 787. The timing could not be worse. Now they are stuck with no funds to do the fleet makeover and must stick with a fleet of too-big aircraft with previous generation engines while passengers are very leery of getting on any airplane and ending up being quarantined in a distant land or upon returning to home.
EK did have the chance to decide what direction they wanted to take when they were phasing out A330-200, and it seems they made the wrong choice by not getting an updated substitute. COVID-19 was not predictable but the aviation industry is always vulnerable to occasional upsets such as 9/11, GFC, SARS, etc and things like strong competition and hub bypass have been hurting the bottom line and now EK's being caught out now big time.
Apparently this month is when STC's role changes from President to adviser. It'll be interesting if he continues to dominate the press like he seems to be doing now, or if this is one last hurrah.