Will keep this short.
I remember in the 80s and 90s when Gulf Air was, for the most part, the main carrier for the Gulf region. It was a great airline, and I was happy to use it and I remember the times when most people I knew (who weren't exposed to the area) didn't know any carriers from the area.
From then to 2010, things have changed.
As things stand now, Emirates has the largest order of A380's in the world out of any carrier, standing order at 90. Gulf Air has none and is aiming to hopefully break even by 2012. While Emirates (if you look at their financials) has more costs and more revenues then most carriers, and even during the worst of the 08 recession, revenues reduced but never did the financial position turn to a loss.
More recently, I read an article that stated Gulf Air has bowed out of the long haul carrier service and is now opting to fight within a smaller perimeter with under served markets in the middle east region like Azerbaijan. At the same time they have terminated their Hong Kong and Singapore routes and Emirates has established nonstop flights to New York and Los Angeles.
Anyhow, you get the picture. Lets see whats to come, but 90 A380s for a country with less humans than a suburb of Istanbul - paints an interesting slant.