European Airlines at Risk From Partial Hedges Against Fuel Costs

Soaring jet fuel prices are weighing on airline stocks and threatening earnings — with carriers positioned only for short-term disruption as the Middle East conflict grinds into its third week.

Many airlines remain only partially hedged against a near-doubling in European jet fuel prices since the war in Iran began, spiking above $1,600 a metric ton. That’s comparable to the move at the onset of Russia’s 2022 invasion of Ukraine.