Some more interesting info for you.Qantas consumes 25% of all liquid fuels that our economy consumes.30% of your air ticket is currently fuel.When Qantas' current hedge prices are used up,their airfares must rise sharply.I would be very dubious at hedging at current prices,since they Qantas may be locking themselves into an over inflated fuel prices.Interesting times eh?

Arjay;
I think Qantas reset its forward buying price last year from
memory. I think I read where they purchased at $70 per barrel equivalent.
I recollect that their previous hedging ran out last year.

It is easy to forget the details and it could have even been the previous year.

Arjay;
I doubt that Qantas uses 25% of all petroleum fuels in Australia.

Australia uses around 900,000 barrels a day so 25% is 225,000 barrels.
Do you really believe all that oil would fit into all the aircraft ?

Really ?

Bazz,I'm just relaying info from a Qantas executive.Their fuel bill next yr is set to increase by $2 billion as their hedged fuel runs out.This will wipe out all their profits.Their profit for last yr was $1.5 billion.This is why they are now cutting services that are not that profitable.

Bazz I just did some stats. 225,000 barrels only produces half of its quantity in fuel.One barrel produces approx 20 gallons of usable
fuel.So for Qantas to use 2.2 million gallons of fuel per day,is not drawing a long bow.