Oil prices low...bad for hedging losses!
Oil prices high....bad for profits!
US dollar high...bad for yields!
US dollar low....bad for something!
It doesn't matter what happens to the world economy these guys will always find a negative spin for it...even in years of record profit. I would like to know what price they budgeted for oil this year. Anything under US$70 a barrell and they would have been crazy. If they did budget at $70 a barrell it means they are on budget for fuel and they negate a lot of their hedging losses.
Also remember that in Singapore this week TT said that while things are bad, CX is still able to finance all their upcoming aircraft orders....meaning we have plenty of cash on hand and we are in pretty good shape.