United Continental, Delta bet on long oil slump
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Calgary
TWO of the world's biggest airlines are betting that oil prices won't rally any time soon, growing more cautious after losing hundreds of millions of dollars on hedges.
United Continental Holdings Inc and Delta Air Lines Inc have reduced fuel hedging as oil plunged close to a six-year low. They've become more like American Airlines Group Inc, the biggest global carrier, which closed its last hedging position in 2014.
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