(Reuters) - Global airlines, looking to lock in huge savings, are preparing to hedge more jet fuel to fix prices as they bet a slide in crude oil to six-year lows may peter out near $40 a barrel.
Some airlines have already stepped up hedging, especially after benchmark Brent crude slipped below $50 a barrel earlier this month, fuel traders and brokers said.
In Europe, airlines such as Aer Lingus and Ryanair are aiming to take advantage of the low oil prices to lock in fuel costs into 2016 and beyond. Thai Airways plans to hedge 100 percent of its fuel purchases this year.
"If you a sensible hedger, you have to look at this as an excellent opportunity," said Robert Campbell, head of oil products research at Energy Aspects.
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