Airlines Fuel Hedging Positions - ZT

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May 29 (Reuters) - U.S. airlines have hedged the price ofoil to protect themselves from rising fuel costs. In recent quarters, some carriers wrote down millions ofdollars in losses as falling oil prices eroded the value oftheir hedge portfolios. Now, with oil prices creeping higher,carriers are under more pressure to lock in the relatively lowprices. U.S. crude oil future CLc1 traded near $65 a barrel inNew York on Friday, up from $32.40 in December and down from anall-time high above $147 in mid-July. The following table shows fuel hedging positions asreported by the carriers:
AIRLINE                      PERIOD      DETAILS
Delta Air Lines (DAL.N)         Q2       75 pct hedged; $2.08 projected fuel price per gallon
                                         2009    61 pct hedged; $1.99 projected fuel price per gallon

American Airlines                 Q2       37 pct hedged at
AMR Corp (AMR.N)                         average cap of $2.59/gallon; 33 pct hedged at average floor of $1.99/gallon.
                                         2009   35 pct hedged at average cap of $2.54/gallon; 32 pct hedged at average floor of $1.89/gallon

United Airlines                     Q2       the company expects
UAL Corp (UAUA.O)                        mainline fuel price, including the impact of settled hedges, to be $2.02/gallon

Continental Airlines (CAL.N)  Q2       35 percent hedged with an average price cap of $3.48/gallon 35 percent hedged with an average price floor of $2.61/gallon

Southwest Airlines (LUV.N)   2009    29 percent

US Airways (LCC.N)             Q2        25 percent hedged with range of $2.03-$2.08/gallon
                                         2009    18 percent hedged with range of $1.96-$2.01/gallon (Reporting by Kyle Peterson, editing by Leslie Gevirtz)

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