US airlines loosen belts on costly hedges

摘要

Houston—Several years of steady jet fuel prices have led US airlines to lighten their hedging loads, punctuated by the world’s largest airline doing entirely without what is essentially insurance on its biggest cost. Newly merged American Airlines said it had sold off its hedging contracts by the end of the second quarter. Many had expected this move, as one part of the merger, US Airways, had gone without hedging since 2008. Most other US airlines have not cut hedging altogether, but have cut back, according to an analysis of secondquarter earnings reports and other documents.