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United Airlines dumps losing hedges, mulls new ones for long term

2015-01-10 02:13:36| Airlines - Topix.net

The Chicago-based carrier reported Friday that it has shrunk its hedge position to cover 22 percent of the fuel it consumes in 2015, down from the 24 percent it had anticipated when oil prices were higher. The airline said it did so at a cost, raising its average fuel expenses last quarter to $2.83 per gallon from up to $2.76 per gallon, the price it had estimated on Dec. 8. This move represents just one step of a broader effort parent company United Continental Holdings Inc has taken to evaluate its fuel hedges, a United spokesman told Reuters.

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