In theory, airlines love cheap oil but in practice, most airlines are less than thrilled.
Airlines are thought to benefit from low oil prices because the cheaper commodity makes jet fuel - a major expense for airlines - less costly.
But airline chiefs at the Singapore Airshow have pointed to the plunge in oil prices – which are down as much as 80 percent since mid-2014 – as taking a bite out of their premium traffic.
Akbar Al Baker, chief executive of Qatar Airways, said his airline wasn't enjoying an oil-related boost.
"It is reducing the business travel. The companies are tightening their belts and there is generally an economic downturn," Al Bakar told CNBC on Tuesday.