ATW Daily News
Southwest to save $1.4 billion on reduced fuel hedges
Tuesday January 6, 2009Southwest Airlines said it reduced its fuel hedge contracts to cover just around 10% of its estimated consumption each year through 2013. This year it expects to save approximately $1.4 billion compared to the guidance provided last summer as its economic fuel cost per gal. excluding taxes is expected to be around $1.80. Its current unhedged estimate is $1.60 per gal.
Other headlines:
- IATA halves forecast 2010 loss to $2.8 billion from $5.6 billion
- Lufthansa targeting 'slight' improvement after rough 2009
- Korean regulators tag KE, Asiana for antitrust violations; KE faces ACCC cargo charge
- Air France KLM maintains African commitment
- Emirates committed to A380 despite growing pains
- Qatar Airways to serve Argentina, Brazil
- China Eastern expands cargo holdings with Great Wall
- Oneworld trio aims to appease European regulators with London slot leases
- Special items, cuts return Cathay Pacific to profit
- US regional growth could hinge on major airline labor negotiations
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