(Reuters) – OSLO Norwegian Air’s Chief Executive Geir Karlsen told Reuters on Thursday that the company is contemplating hedging part of its jet fuel expenses since kerosene prices have decreased.
“We’re thinking now about adding a little more hedge,” Karlsen remarked.
Following Russia’s invasion of Ukraine, the spot price of northwest European jet fuel reached all-time highs of more than $1,600 per tonne in early March.
On Thursday, it had dropped back to roughly $1,264. It fell as low as $1,000 on August 8.