Fuel hedging at RYR and EIN

Ryanair has extended its fuel hedging position to 50% of its requirements for the first three quarters of fiscal 2009/10.  "We have taken advantage of the recent fall in fuel prices to extend our hedging position and we now have 50% of our requirement for the first 3 Quarters of fiscal 2009/2010 at $700 per tonne (approximately $64 per barrel)," said chief executive Michael O'Leary.  "This will lock in a 42% reduction of our hedged fuel cost per passenger compared to fiscal 2008/09,” he said. 

Yesterday, Aer Lingus confirmed that the fuel hedging position of the company as at 31 December 2008 was 72% cover for 2009 at a price of US$911 per tonne (approximately $83 per barrel); and, 22% cover for 2010 at a price of US$876 per tonne (approximately $80 per barrel). The 2009 position has improved from Aer Lingus' previously disclosed position of 64% of 2009 requirements hedged at US$995 (approximately $91 per barrel).