News Content
Malaysia Airlines expects oil at US$70 a barrel and hedges aggressively
MALAYSIA Airlines is hedging that oil prices will reach US$70 a barrel toward the end of this year as the loss-making flag carrier makes sudden bid to win profitability.
"At the moment we are hedged about 65 per cent of the current year at about a little bit north of $60," CEO Peter Bellew told Bloomberg.
"We are quite aggressively hedging 12 months ahead on a quarter-to-quarter basis and taking a fairly prudent approach to it," he said.
Crude oil futures were trading at $52.66 a barrel in Singapore.
"At the moment we are hedged about 65 per cent of the current year at about a little bit north of $60," CEO Peter Bellew told Bloomberg.
"We are quite aggressively hedging 12 months ahead on a quarter-to-quarter basis and taking a fairly prudent approach to it," he said.
Crude oil futures were trading at $52.66 a barrel in Singapore.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
