There is also a flip side to low oil prices... Gulf carriers have seen huge expansion in recent years and with a breakeven oil price for the economy in the UAE at c$40 there is actually an acute shortage of liquidity in Gulf banking markets now. You can expect the expansion of Gulf airlines to slow considerably over the next 12-18 months..... another source of recruitment is going to dry up....
Also now talk of a BS/Quantas merger.... = more job losses and experienced pilots in the queue ahead of wanabees.
You really would need to get you head examined to do an integrated course now.