Stop Digging the Hole

Someone should just take away all of United’s decision making privileges… we bailed them out after 9/11 and this is what we get in return.

That’s what’s happened at United. The company has 51 percent of its 2008 fuel hedged at $111. Per-barrel prices closed under $98 yesterday. It’s third-quarter ledger will include $72 million in hedging losses, although the airline warns it could lose another $472 million depending upon what happens with fuel costs. The airline’s 2009 fuel hedges are based on a per-barrel price of $118.

[From Dropping Oil Prices Hurting Airlines. Huh? | Autopia from Wired.com]

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