General Lee
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FACTBOX-U.S. airlines fuel hedging positions
Fri May 29, 2009 2:33pm EDT
May 29 (Reuters) - U.S. airlines have hedged the price ofoil to protect themselves from rising fuel costs. In recent quarters, some carriers wrote down millions ofdollars in losses as falling oil prices eroded the value oftheir hedge portfolios. Now, with oil prices creeping higher,carriers are under more pressure to lock in the relatively lowprices. U.S. crude oil future CLc1 traded near $65 a barrel inNew York on Friday, up from $32.40 in December and down from anall-time high above $147 in mid-July.
The following table shows fuel hedging positions asreported by the carriers:AIRLINE PERIOD DETAILS
Delta Air Lines Q2 75 pct hedged; $2.08 projected fuel price per gallon
2009 61 pct hedged; $1.99 projected fuel price per gallon
American Airlines Q2 37 pct hedged atAMR Corp average cap of $2.59/gallon; 33 pct hedged at average floor of $1.99/gallon.
2009 35 pct hedged at average cap of $2.54/gallon; 32 pct hedged at average floor of $1.89/gallon
United Airlines Q2 the company expectsUAL Corp mainline fuel price, including the impact of settled hedges, to be $2.02/gallon
Continental Airlines Q2 35 percent hedged with an average price cap of $3.48/gallon 35 percent hedged with an average price floor of $2.61/gallon
Southwest Airlines 2009 29 percent
US Airways Q2 25 percent hedged with range of $2.03 -$2.08/gallon
2009 18 percent hedged with range of $1.96 -$2.01/gallon
(Reporting by Kyle Peterson, editing by Leslie Gevirtz)
Bye Bye--General Lee
Fri May 29, 2009 2:33pm EDT
May 29 (Reuters) - U.S. airlines have hedged the price ofoil to protect themselves from rising fuel costs. In recent quarters, some carriers wrote down millions ofdollars in losses as falling oil prices eroded the value oftheir hedge portfolios. Now, with oil prices creeping higher,carriers are under more pressure to lock in the relatively lowprices. U.S. crude oil future CLc1 traded near $65 a barrel inNew York on Friday, up from $32.40 in December and down from anall-time high above $147 in mid-July.
The following table shows fuel hedging positions asreported by the carriers:AIRLINE PERIOD DETAILS
Delta Air Lines Q2 75 pct hedged; $2.08 projected fuel price per gallon
2009 61 pct hedged; $1.99 projected fuel price per gallon
American Airlines Q2 37 pct hedged atAMR Corp average cap of $2.59/gallon; 33 pct hedged at average floor of $1.99/gallon.
2009 35 pct hedged at average cap of $2.54/gallon; 32 pct hedged at average floor of $1.89/gallon
United Airlines Q2 the company expectsUAL Corp mainline fuel price, including the impact of settled hedges, to be $2.02/gallon
Continental Airlines Q2 35 percent hedged with an average price cap of $3.48/gallon 35 percent hedged with an average price floor of $2.61/gallon
Southwest Airlines 2009 29 percent
US Airways Q2 25 percent hedged with range of $2.03 -$2.08/gallon
2009 18 percent hedged with range of $1.96 -$2.01/gallon
(Reporting by Kyle Peterson, editing by Leslie Gevirtz)
Bye Bye--General Lee
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