When the fuel prices where high for aviation fuel Qantas put on fuel levies on the tickets of customers. Has anyone noticed the levies have not been taken off now fuel prices are about 30% cheaper now.
The fuel levy was never designed to pay for fuel costs. Qantas admitted in its official report that the levy was to compensate for 'negative hedges.' Few people would have taken any notice of that apparently mysterious phrase. It means 'losing hedges'.
In other words, the actual net cost of the fuel they were buying was much higher than at the pump. They stuffed up the hedges, which is not hard to do. I don't know what the hedgeing situation is currently.
When the fuel prices where high for aviation fuel Qantas put on...
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