Read somewhere that AK boss's fuel hedging strategy tank and cost them big time. Other airlines are caught as well but not with the percentage loss suffered by AK.
Looks like small fart who likes to act big and just went into fuel hedging without a clear idea how to go about it.
MAS hedged only part of their fuel costs and was not overly disadvantaged when fuel prices went south. Tony Fernandez has very very much to learn before embarking on fat dreams to join the big league.