Manufacturing Industry
New oil price rise worries airlines
Airline Industry Information, Sept 28, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
A new rise in fuel prices is sparking fears that airlines might once again be watching their earnings fall as costs rise.
Shares in airlines fell in both the US and Europe on Monday (27 September). A spokesperson for Swiss International Air Lines, which sold its hedges earlier in the year leaving it vulnerable to rising oil prices, said that it would not consider hedging again until the market had calmed down.
Other airlines such as Lufthansa, Ryanair and British Airways have said that although they will be monitoring the situation they will not be changing their hedging positions. Ryanair is expected to review its hedging policy at the end of October 2004 when its current USD26 a barrel deal expires, reports Reuters.
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