Ryanair hedge Q1 2011 fuel
03.10.09
Ryanair has announced it had hedged 50% of its fuel requirements for the first quarter of the 2011 fiscal year (April - July) at a cost of $662 per tonne. The airline made the announcement at its investor day in London yesterday.
At the Ryanair AGM in Dublin last week chief executive Michael O’Leary said the company will save about €460m on its fuel bill in the current financial year and that it had recently hedging 90% of its oil costs at $62 a barrel for the fourth quarter.
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