Delta Airlines’ new CEO Ed Bastian admits glibly “We’ve lost over the last eight years about $4 billion cumulatively on oil hedges” in a recent Bloomberg interview. When asked if he would consider hedging, or locking in oil prices in the future, he states “I don’t get paid to make those kinds of bets.” Given that fuel accounts for between 23% and 33% of Delta’s costs from year to year, that is an incredulous statement.
Delta Airlines’ new CEO Ed Bastian admits glibly “We’ve lost over the last eight years about $4 billion cumulatively on oil hedges” in a recent Bloomberg interview. When asked if he would consider hedging, or locking in oil prices in the future, he states “I don’t get paid to make those kinds of bets.” Given that fuel accounts for between 23% and 33% of Delta’s costs from year to year, that is an incredulous statement.
Share this Article
Recommended