This study investigates the effects of the slopes of the rotational axis and bearing preloads on the natural frequencies and onset speeds of the instability of a rotor supported on gas foil bearings (GFBs). The predictive model for the rotating system consists of a rigid rotor supported on two gas foil journal bearings (GFJBs) and a pair of gas foil thrust bearings (GFTBs). Each GFJB supports approximately half the rotor weight. As the slope of the rotational axis increases from $0^{circ}$(horizontal rotor operation) to $90^{circ}$(vertical rotor operation), the applied load on the GFJB owing to the rotor weight decreases. The predictions show that the natural frequency and onset speed of instability decrease significantly with an increase in the slope of the rotational axis. In a parametric study, the nominal radial clearance and preload for the GFJB were changed. In general, a decrease in the nominal radial clearance lead to an increase in the natural frequency and onset speed of instability. For constant assembly clearance, the decrease in the preload changed the natural frequency and onset speed of instability with insignificant improvements in the rotordynamic stability. The present predictions can be used as design guidelines for GFBs for oil-free high-speed rotating machinery with improved rotordynamic performance.