I have a sort of similar situation in that I am due to fly direct to Malaysia with BA on 26 March. I am supposed to be meeting friends there for a 2 weeks holiday, then our return flight was with Emirates via Dubai.
My friends were travelling to Dubai for 10 days holiday there first. They then planned to catch a flight out of Dubai on 25th March to meet me in Malaysia. I personally would have paid more and booked more direct flights with better flight times, but I am old and now prefer to pay more for a better flight experience. I compromised though as they wanted to save money so I agreed to come back with them on 8 April with a one night stop in Dubai as the flights were a lot cheaper than other less inconvenient options
Anyway their flight out to Dubai is due to leave this Friday. If it leaves they will be catching it, despite the lack of valid travel insurance as a result of the foreign office advice. They are planning to have their holiday in Dubai regardless apparantly!
Since I don't qualify for any refund of anything, unless Emirates cancel the return flight (which I doubt they will) and since I also really need to be back by 10 April and don't want to go against the foreign office travel advice anyway I have made the decision to book a flight back via Hong Kong with Cathay Pacific on my departure date of 8th April, one that is flexible and can be cancelled at any time for a £50 fee.
I won't cancel the Emirates flight. If the Emirates flight leaves (quite likely at the moment), and if by some miracle the foreign office advice has also changed by then, I will cancel the Cathay flight and only forfeit £50, otherwise I will come back on Cathay. My friends plan to come back via Dubai regardless to save money. Their back up plan is having family/friends to stay with in Dubai and Malaysia if they have to extend their sta in either place due to cancelled flights. they have no plan for the lack of travel insurance.
The Cathay flight was the cheapest I could find that was around the date I need to be back by and that met my criteria of no Middle East stopovers, and less than 30 hrs travel time total, but it still cost a fortune and prices are going up all the time. So it is basically the most expensive holiday I have ever booked but hey ho , first world problems I suppose!
Now I just have to hope that the flight from Dubai to Malaysia for my friends is not cancelled as I have no real desire to spend two weeks in Malaysia on my own. That was never the plan and I would have booked something different if it had been