Airlines are delaying taking out new jet fuel hedges in the hope that prices will fall in the coming months, in a bet on a swift resolution to the Iran war that leaves them potentially exposed to further increases.
European airlines have hedged about 80 per cent of the fuel they need for this year and typically take out new hedges on a rolling basis to lock in future prices.
However, after the price of jet fuel doubled following the start of the Iran war three weeks ago, some carriers have paused any new financial contracts.
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