Airlines Act as If $80 Oil Is Heading Even Higher
- Carriers lift hedging volumes for next year as activity grows
- Crude prices have rallied, trading near seven-year highs
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Fresh from losing billions of dollars from bad oil-price hedges because of Covid, many of the world’s airlines are once again trying to protect themselves from soaring fuel costs.
European carriers including Lufthansa Group, Air France-KLM and Ryanair Holdings Plc have said in recent days that they fixed at least half of their fuel bills for parts of next year. Others from further afield like Southwest Airlines Co., Alaska Air Group Inc. and Turkish Airlines have all boosted their hedge positions in recent months.