logo
Plus   Neg
Share
Email

Wizz Air Updates On Fuel Hedging Positions - Quick Facts

Wizz Air Holdings Plc (WIZZ.L), a low-cost airline in Central and Eastern Europe, on Tuesday issued an update on its fuel hedging positions citing the significant increase in the fuel prices in recent days.

The company said that as of September 17, hedge coverage for the seven months in F20 was 77 percent, and for the twelve months in F21 was 43 percent.

For the seven months in F20, exposure was 703 thousand metric tons and coverage was 541 thousand metric tons. For the 12 months, exposure was 1.45 million metric tons and coverage was 621 thousand metric tons.

Wizz Air said the aim of the hedging policy is to reduce short-term volatility in earnings and liquidity. The company has taken advantage of lower fuel prices over the summer period and increased its hedge position beyond its policy minimum levels of 50 percent of the projected jet fuel requirements for the next twelve months and 40 per cent on an 18-month hedge horizon.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Tech giant Apple Inc. (AAPL) is reportedly planning to begin assembling a new low-cost iPhone 9 in February. According to Bloomberg, the Cupertino, California-based company is expected to officially unveil the new phone as early as March. The assembly work for the new handset will be split among Taiwan-based... A Louisville, Kentucky-based franchise of Wendy's and Fazoli's restaurants, was ordered by the federal government to pay a civil penalty of $157,114 for violating child labor laws. The U.S. Department of Labor's Wage and Hour Division or WHD said its investigation found that Manna Inc. violated child labor requirements of the Fair Labor Standards Act at 99 Wendy's and Fazoli's restaurants. Tesla's market capitalization briefly crept up the $100 billion mark in extended trading on Tuesday, making it the first publicly-listed automaker in the U.S. to achieve the feat. Tesla's stock gained 7.2 percent to close Tuesday's regular trading session at $547.20, and rose to $555 in after-hours trading, pushing the luxury electric car maker's market valuation to more than $100 billion.
Follow RTT
>