Originally Posted by
mngmt mole
I am not certain these number are correct, but if they are, then everyone needs to ponder the stark reality of them. Effectively, those numbers, combined with new (and possibly larger) hedging losses mean the end of everything.
"...The airline's largest cost last year was oil, accounting for 28.4 percent of operational costs. From 2015 to 2017, it lost US$8.47 billion, US$8.46 billion and US$6.38 billion in oil hedges respectively. The company only lost US$101 million in 2019 and gained US$13 million in the second half of 2019 in oil hedges..."
I might also add that no one at a senior level has been held accountable. Not a single individual. The same abjectly incompetent and arrogant people are still in charge. They have "lifeboats"....the rest of us, not so much. Sad.
I believe you are correct. The fuel hedge numbers for 2015-17 should be in HKD and even then they are off by a couple billions. However the 2020 hedging numbers are pretty close.
Cathay Pacific (0293.HK) hedged around 35% of its 2020 fuel at between $61.37 and $65.41 per barrel of Brent.
https://www.reuters.com/article/us-h...-idUSKBN2171FJ