I think like most airlines we don’t hedge, we have never hedged, so it is probably good news for us in the long term, as long as the price stays low,” he said of cheaper oil. “It will give us opportunity to make the profits we are hoping for.” Saudi Arabia announced in 2012 that it would liberalise its domestic air travel market. That will mean more competition; Qatar Airways has obtained permission to run a Saudi domestic carrier, Al Maha Airways, though its chief executive said in December that complicated bureaucracy meant the launch of the Saudi arm would be delayed a further six to 18 months.