Good story Shep. I enjoyed reading that, honestly.
I'm not sure it's a direct parallel to CX unless the conspiracy theory that the Swires (and presumably Air China) are backing money out of the Company intentionally with bad hedges. If so, they are weakening the balance sheet on purpose, presumably to get the cash out and make the Company more saleable. This scenario is certainly possible, but it gives our directors a whole lot of credit for seeing the falling fuel prices which I'm not sure they were capable of seeing. Maybe the Swires (UK) knew, but almost certainly not the CX clowns. Are they pawns in this game?
I did hear a rumour once that the final decision for the fuel hedges came directly from Merlin Swire. True? I have no idea.