Aeroflot hedged 70% of jet fuel this year, CEO says

TASS Russian News Agency | Jun 25, 2019 at 6:56 PM

MOSCOW, June 25. /TASS/. Aeroflot hedged 70% of its jet fuel expenses this year, Chief Executive Officer of the Russian flag carrier Vitaly Savelyev said at the annual general meeting of shareholders on Tuesday.

"We hedged oil and jet fuel this year because we have a feeling that jet fuel behavior on the market may be unclear again," the top manager said. "We therefore hedged 70% of jet fuel procurement volume. That is, whatever occurs with the price on the market, we have a guarantee that the price we set in this plan for this year will be kept," Savelyev noted.

Aeroflot hedged fuel costs last time in 2015. The company sustained a loss under hedging instruments at that time.