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Cathay sticks to fuel price shield despite HK$911m hedging loss

The carrier still sees a net benefit if oil prices drop - and it's protected if they should rise again steeply

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Hedging "is absolutely important for us to control the upside, which is one big part of our financial risk management", says Mr Chu. "We need to continue to manage that."

Hong Kong

CATHAY Pacific Airways Ltd lost HK$911 million (S$162.6 million) from fuel hedges last year. It has also racked up HK$12.5 billion in unrealised losses. Chief executive officer Ivan Chu says he will still stay the course.

"We would stick by it," Mr Chu, 54, said on