A case for hedging fuel
Chinese airline regulators curbed the use of derivatives after some embarrassing blow-ups. Now there is mounting evidence indicating it was equally as damaging not to.
The largest three airline companies in China, China Eastern Airlines (CEA), Air China (AC) and China Southern Airlines (CSA), all reported a sharp decrease in operating profits in 2011. Their hedging strategies (or rather, lack of) played a key role in this poor performance.
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