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