I have to disagree over the fuel hedging debacle. There is no dispute that fuel hedging is a gamble - if it was a science rather than an art it would be easy. The key point, however, is that every airline in Europe had the same information available to them and for whatever reason easyJet made the biggest mistakes. As an independant accessor, The Daily Telegraph costed those mistakes at over £300 million- whatever the real figure, we can all agree it is a shed load of cash. The simple fact is easyJet management blew it when most of their main competitors got it right. I have yet to hear of a single resignation over this vast error or even a sniff of an apology. Plenty of bonuses though.
This is not off-topic as the fuel hedging debacle and the scale of associated losses give some measure of the relative sums of money involved. If you take the company at its word, and I don't, they are saying that all the pilot pay claims for this year add up to a maximum of £5 million - including sorting the German contract. That is as nothing compared to fuel hedging and is well-afordable given the extra £100m they expect to get back from no fuel hedging this coming year.