Are Spirit furloughs possible?

[LITCHAT7]

Ok, but what about the hedging? Do we know what % of NK's current and future fuel needs are hedged, and at what price?

This is a very good question. I was talking to one of the guys from training the other day that said we have 63% of our fuel hedged! Did'nt say a price however. Not sure if he knew what he was talking about. Anyone else in the know?

 

[Mike man]

Fuel Hedges
In April, 2005, Spirit implemented a fuel price hedging strategy to mitigate the risk of rising oil prices. Over the course of the second quarter, Spirit invested in fuel hedge positions that essentially cap the price that Spirit will pay for 100% of its remaining 2005 jet fuel consumption at levels well below today's market prices. The Company intends to maintain this strategy on a go-forward basis.

http://findarticles.com/p/articles/mi_m0EIN/is_2005_July_19/ai_n14794679

Who knows some of the fuel just might be hedged...

 

[lostplnetairman]

When Ben used to give weekly updates in 2007 he mentioned that they were hedged almost totally for the next few years (by definition, few = 3-8).

 

[castle bravo]

OK, but at what price? Are the hedges underwater?