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Tony Fernandes warns airline fuel costs will jump as hedges expire

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AirAsia co-founder Tony Fernandes warned that airline fuel costs will "go up dramatically" over the next 12 months as carriers' fuel hedges expire. He said at GTEF that the period of volatility would last about 12 months, though he conceded the timing was a guess. Asian jet fuel is trading at just over double last year's average, according to IATA, and AirAsia shares are down almost 75% this year as the company plans to raise $1 billion to refinance debt. Fernandes also said the next travel boom will target secondary cities, with AirAsia launching a 160-seat A220 version.

AI-generated from reports · 2 hours agoUpdate

Latest updatesOct 19 19:45
AirAsia's Tony Fernandes Warns Airline Fuel Costs Will Jump as Hedges Expire

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Oct 19
  1. Fortune Term Sheet
    AirAsia's Tony Fernandes Warns Airline Fuel Costs Will Jump as Hedges Expire

    AirAsia co-founder Tony Fernandes warned that airline fuel costs will "go up dramatically" over the next 12 months as carriers' hedges expire. Asian jet fuel is trading at just over double last year's average, per IATA, and AirAsia shares are down almost 75% this year as it plans to raise $1 billion for debt refinancing. Fernandes also said the next travel boom will target secondary cities, with AirAsia launching a 160-seat A220 version.

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