The airline industry is set to reap the benefits of lower oil prices, which could fall to as low as $30 a barrel, according to the chief executive of Emirates Airline.
"I've always thought personally it go well down to 30 again, but we'll see," Tim Clark, president and CEO of Emirates Airline, told CNBC in an exclusive interview.
"I've always said the realistic price for out-of-ground: $70. Should never, ever have been above that."
Although there may be significant volatility across asset classes in the short term, Clark said that a lower oil price would bring back confidence and investment for the aviation industry in the long term.
"At the moment we've got all sorts of issues. This gives the global economy a fighting chance in the next 18 months to 2 years to get back on a reasonable footing," he told CNBC.