Southwest CFO: Hedging is for stability, not profit

10/2/2008 | Evan Sparks's Aviation Policy Blog

In an interview with aviation blogger Evan Sparks, Southwest Airlines CFO Laura Wright defended against charges that the company was hypocritical for signing on to the Air Transport Association-led Stop Oil Speculation Now coalition while at the same time aggressively hedging its own oil needs. "Wright said that Southwest doesn't hedge for financial gain as much as for financial stability," Sparks reports. "The fact that Southwest is paying as little as $51 per barrel is a financial benefit not to be sneezed at, but its benefit is primarily in terms of being able to predict what costs will be and being insulated from fast-moving fluctuations in the price of jet fuel."

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