however the low fuel price will be there for many years to come via hedging.
Hedging is purchasing insurance, and someone has to take the other side of the trade. The further out in time you go, the less likely someone is willing to take your risk. The liquidity of the insurance drops rapidly beyond 12 months, and hence the premium goes up. Look at todays spot price, and that is what you can expect QF hedging to reflect for another 12 to 18 months, continue this on a rolling basis.
Another way of thinking about it is the B787
is the fuel hedge that will last for a decade ++ through reduced burn. The premium is locked in at the time of purchase as a capital cost. Lower (and potentially significantly lower future) fuel prices actually work against the business case for B787.