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JetBlue hedging 45% of 2004 fuel costs
0 Comments | Deseret News (Salt Lake City), Jun 30, 2004 | by Bloomberg News
JetBlue Airways chief executive David Neeleman said Tuesday that the carrier's fuel costs are about 45 percent hedged through the end of this year.
JetBlue's fuel costs are about 20 percent hedged for 2005, Neeleman said.
"We have a pretty good hedge position," Neeleman said. "Not as much as we hoped, but probably the second-best hedge position when you figure in quantity and price."
The New York-based low-cost carrier would consider adding more hedges, Neeleman said. Airlines are using hedging contracts to offset rising fuel prices.
JetBlue still expects an operating margin of 14 percent to 16 percent in the second quarter, and a margin of 13 percent to 15 percent for the year, Neeleman said.
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JetBlue, founded by Utah native Neeleman, operates several flights out of Salt Lake City.
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