JetBlue Airways Corp. hedged about 26 percent of its jet-fuel needs for the second quarter.
The carrier expects fuel needs, including the impact of hedges and taxes, to average about $3.33 a gallon in the second quarter, New York-based JetBlue said in a statement today. For the full year, the company has hedged 21 percent of its fuel needs and expects 2012 costs to average $3.30.
JetBlue said that it used crude call options, jet fuel swaps and collars, a protective options strategy to help prevent massive losses, to lock in its fuel requirements.
-Editors: Dan Stets, Charlotte Porter