Oil and a Missed Opportunity!
So for the last year the company has been firstly crying over the sky high oil prices and their effect on profitability, then they dived to unexpected lows and they were crying over fuel hedging losses (even though they were only paper losses at that stage).
Now we have NR bleating about rising oil prices and their effect on route profitability.
Two questions. If they can't make the airline break even at $60 a barrell even in relatively difficult economic times what hope have they ever got? Secondly, as this is probably the lowest price we will ever see oil get to in our lifetimes, did they miss a golden opportunity to finally hedge oil at $40 a barrell for a lot of their long term, and some of their short term, requirements?
It seems our management just seem to go from worse to worse.