Maybe Mr. Slosar should talk to the folks at Southwest airline. Southwest took massive fuel hedging position in 2007 and 2008 (upwards of 70-80% hedge), and in 2014, they took the position of minimizing their hedging in 2015 (15-30% hedge only), as their fuel hedging team forecast the fuel price will plummet, which happens they predicted. Southwest is one of the few carriers that consistently make the right bet in their fuel hedging in the last 15 years.
United, Southwest Shed Hedges as Fuel Seen Holding Near 5-Yr Low - Bloomberg Business
So Mr. Slosar, yes, there ARE VERY SMART people out there, just not the one running cathay pacific at the moment. Clearly the fuel hedging team at CX finance department had no idea how to hedge fuel. We are a joke compare to the fuel hedging team at Southwest.