Airline losses from hedging against oil price fluctuations amount to over $4.7 billion

losses airline oil fluctuations amount
Middle East

Airline losses from hedging against oil price fluctuations amount to over $4.7 billion

European airlines have lost more than $4.7 billion as a result of fuel hedging, almost a year after the International Air Travel Association (IATA) warned the practice could bring down profits.

The affected airlines are Lufthansa, IAG, Ryanair, and Air France, according to La Información.

The airlines had protected themselves to varying degrees against future fluctuations in oil costs and suffered proportional losses.

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