Jet-Fuel Hedging Positions for Europe-Based Airlines

The following table shows the amount of jet-fuel consumption hedged by European airlines to guard against price fluctuations.

Data is compiled mainly from company statements and is updated as it becomes available. Hedges are for prices per metric ton of jet fuel, unless otherwise stated.

Company/             Percent  Hedging Period               Price
Disclosure Date      Hedged
---------------      ------   --------------               -----
SAS Group
6/12/13              89%    May to July 2013           Not Given
6/12/13             100%    Aug. to Oct. 2013          Not Given
6/12/13               4%    Nov. 2013 to Jan. 2014     Not Given
6/12/13               3%    Feb. to April 2014         Not Given

Ryanair Holdings Plc
5/20/13              90%    April 2013 to March 2014        $980
5/20/13              25%    April 2014 to Oct. 2014         $930

EasyJet Plc
5/15/13              83%    Six Months to Sept. 2013        $980
5/15/13              85%    Full year ending Sept. 2013     $983
5/15/13              67%    Full year ending Sept. 2014     $984

Air Berlin Plc
5/15/13              99%    April to June 2013         Not Given
5/15/13              75%    July to Sept. 2013         Not Given
5/15/13              55%    Oct. to Dec. 2013          Not Given

International Consolidated Airlines Group SA
5/10/13              80%    April to June 2013              $970
5/10/13              79%    July to Sept. 2013              $954
5/10/13              65%    Oct. to Dec. 2013               $952
5/10/13              45%    Jan. to March 2014         Not Given

Vueling Airlines SA
5/9/13               70%    April to June 2013              $991
5/9/13               73%    July to Sept. 2013              $982
5/9/13               80%    Oct. to Dec. 2013               $984
5/9/13               77%    2013                            $989
5/9/13               64%    2014                            $981

Air France-KLM Group
5/3/13               70%    April to June 2013              $990
5/3/13               69%    July to Sept. 2013            $1,000
5/3/13               74%    Oct. to Dec. 2013             $1,000
5/3/13               71%    2013                          $1,010

Deutsche Lufthansa AG*
5/2/13               76%    2013                       Not Given
5/2/13               38%    2014                       Not Given

Aer Lingus Group Plc**
4/25/13              88%    April to June 2013            $1,004
4/25/13              75%    July to Sept. 2013              $993
4/25/13              60%    Oct. to Dec. 2013               $970
4/25/13              76%    April to Dec. 2013              $992
4/25/13              18%    2014                            $972

NOTES:
*Figures as of April 2 and were given by Claudia Lange, company
spokeswoman, in response to e-mailed questions
**Aer Lingus figures as of March 31

To contact the reporter on this story: Rupert Rowling in London at rrowling@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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