Hedging contracts not a guarantee of limited risk in today's market

10/17/2008 | Wall Street Journal, The

With oil prices down 50% since their July peak of $147 a barrel, many airlines find themselves locked into jet fuel contracts at prices far higher than current levels. Hedge positions contributed to quarterly losses at both Southwest Airlines and Continental Airlines this week, for example. Nevertheless, says Southwest CEO Gary Kelly, "Low fuel prices are a good thing ... and an opportunity that we'll want to take the best advantage of that we can."

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Wall Street Journal, The

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