EasyJet yesterday said rising fuel costs have forced it to reduce its full-fiscal-year forecast of a 20% year-over-year increase in pre-tax earnings (ATWOnline, Feb. 8). The LCC said that at the time of its forecast, forward fuel price for summer 2008 was $840 per tonne but now has risen to more than $1,000 per tonne. It is hedged for 40% of its requirements at $750 per tonne but said it "is unlikely that such a large and immediate fuel increase could be mitigated in the short term by ...
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