Cathay to rebalance fuel hedges
Hong Kong airline rethinks its strategy on hedging after being hit by $1 billion in losses
Cathay Pacific will seek to rebalance its hedging strategy by taking new positions via cash call options on Brent crude prices, which should give it greater profitable exposure to any upside in the price of crude oil, offsetting existing positions in put options.
The Hong Kong airline is also planning on restructuring its entire hedging portfolio over time and will look to include stop-loss contracts in the new scheme, according to comments attributed to the company's managing director Tony
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