Airlines lock in fuel costs with varied hedges as oil climbs

With Brent crude around $100 and jet fuel prices near record highs, airlines are using hedging strategies—futures, options, and currency hedges—to protect margins from volatile fuel costs. The article surveys how major carriers approach hedging, showing a wide spectrum: some expanding coverage to cover large portions of fuel needs over multi-year horizons, while others (e.g., China Eastern, SAS) have reduced, paused, or avoided hedging. Overall, hedging policies vary by airline and reflect differing risk appetites and market views.