07 Jun '11, 10am

Garuda Indonesia to hedge 5-10% of total fuel needs: SINGAPORE: Garuda Indonesia said it plans to hedge about fi...

SINGAPORE: Garuda Indonesia said it plans to hedge about five to 10 per cent of its total fuel needs to mitigate against rising fuel costs. This marks a change in practice for the carrier which currently does not hedge its fuel needs. Speaking in his first interview with Channel NewsAsia after the flag carrier went public earlier this year, CEO Emirsyah Satar said fuel currently accounts for 37 per cent of Garuda's operating costs. That is up from 28 per cent last year. Garuda is expecting fuel prices to remain at current highs in the near future. Mr Satar said: "There was a study comparing airlines in the time period of six to eight years. Airlines which do not hedge and airlines which hedge. What they ended up, it's the same thing. It's just a matter of timing, when you make money and when you lose money. You talk to analysts - fuel is just one thing they just cannot pre...

Full article: http://www.channelnewsasia.com/stories/corporatenews/view...

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