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CX profits falls by 82%
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25th Aug 2016, 00:12
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Progress Wanchai
Join Date: Aug 2006
Location: The Cesspit
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10 years ago CX hedged 15 percent of its fuel cost.
A 60 percent long position futures contract (not an option that can be paid out ala qantas) is not a hedge, it's a gamble with shareholders money.
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