Few airlines can boast that they are actively hedging their jet fuel consumption with 26 different counterparties, but that is the novel approach being taken by Etihad Airways, the flag carrier of the United Arab Emirates.
Etihad was founded in 2003, but the firm's hedging programme began more recently, in 2007. Since then, the quantity of jet fuel hedged under the programme has grown from 6.5 million barrels (bbls) to reach around 23.8 million bbls in 2012. As of mid-June, it had hedged approxi
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