Hedging fuel: Cathay plan burns up as it takes painful 2016 hit
Most airlines hedge fuel expenses. This time, Cathay Pacific failed to predict oil would stay cheap. It is not alone in making this call ... and it wasn't necessarily wrong.
It’s been a tough few days for Cathay Pacific Airways. If it's not being slapped on the wrist for breaching Europe’s competition laws (for which a HK$476 million fine was overturned seven years ago but reinstated today), it is reporting its first annual loss since 2008 – only the third loss in its history.
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