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 THAI AIR TO MAINTAIN FUEL HEDGING AT 70 PCT

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Fly Emirates
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PostSubject: THAI AIR TO MAINTAIN FUEL HEDGING AT 70 PCT   Tue Oct 19, 2010 11:24 pm

October 15, 2010

Flag carrier Thai Airways said on Friday it
expects to keep fuel-hedging contracts at
around 70 percent of fuel needs this year,
roughly the same as the past three
months.
"With oil prices still volatile, the current
level of hedging is appropriate," President
Piyasvasti Amranand told reporters.
Oil rose towards USD$83 a barrel on Friday,
heading for a third straight weekly close
above USD$80.
The airline's hedging is up from about 30
percent late last year and only 7 percent
early last year, Piyasvasti said.
Jet fuel accounts for about 34 percent of
operating costs.
Thai Airways, 51 percent owned by the
Finance Ministry, last month raised THB15
billion (USD$502.8 million) by selling new
shares to existing shareholders and the
public.
(Reuters)

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