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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.

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