I'm just trying to understand this company. They seem in this briefing to be trumpeting forward (2017) fuel hedging savings compared to last year without acknowledging they lost 5 million on previous fuel hedging this year (presumably due to the oil price collapse, and being stuck with overpriced fuel as a result). Qantas' biggest profit uplift was from cheaper fuel. Am I right to suggest that half of REX's loss is from mistakenly hedging against those fuel reductions? If so at least 'fess up!
I could be wrong of course....
I'm just trying to understand this company. They seem in this...
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