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Oil Slump Offers Scant Relief to Heavily Hedged Airlines

  • Many carriers are already locked in at far higher fuel prices
  • Slide will hit hard in Mideast, but U.S. carriers may benefit
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Plunging oil prices usually boost airlines by bringing down the cost of their biggest expense. But for carriers locked into buying fuel at higher levels, the drop offers little relief from the coronavirus epidemic that has wiped out demand for travel.