JetBlue hedged 27% of fuel

JetBlue Airways hedged 27 per cent of its fuel needs for the third and fourth quarters. The carrier expects fuel needs, including the impact of hedges and taxes, to average $3.13 a gallon in the third quarter and $3.18 for the full year, New York-based JetBlue said in a July 25 statement. JetBlue said that it used crude call options, jet fuel swaps and collars, a protective options strategy to help prevent massive losses, to lock in its fuel requirements and that the cost projections were based on the curve as of July 20. Delta Air Lines said in a July 25 statement that it expected fuel to average $3.09 a gallon and $3.05 in the fourth. from:Gulfnews