Yeah, it has always baffled me how so many airlines balls up their fuel hedging.
I guess they haven't got the right people who really understand time series analysis of the financial markets and how they fractally evolve.
But this kind of thing from high management never surprises me. I once had a debate with the CEO of a multi billion pound hedge fund (owned by someone who is in the Fin Times top 20 rich list) who didn't understand what "Fiat" money meant and was dubious of technical price analysis of financial markets. How do so many of these mediocre people get to these positions?
Also, the large Investment banks and their MBA graduates showed how mediocre management can make a real hash of things. Not understanding risk and thinking they can calcualte probabilities when they can't. In an in direct way, the fiasco that they caused, starting back in 2007, is a major contributing factor to why the aviation industry is now in such a poor state.