News: VAH Singapore Airlines Says Now In Over-Hedged Position With Respect To Fuel Consumption

April 29 (Reuters) - Singapore Airlines Ltd SIAL.SI :

• SCALE OF CAPACITY CUTS MEANS SIA GROUP NOW IN OVER-HEDGED POSITION WITH RESPECT TO FUEL CONSUMPTION
• EXPECT TO MAINTAIN FUEL HEDGING POLICY TO MITIGATE IMPACT OF VOLATILITY
• SURPLUS HEDGES WILL NEED TO BE MARKED TO MARKET AS AT 31 MARCH; EXPECTED TO RESULT IN SUBSTANTIAL LOSSES
• GIVEN UNCERTAINTY, PAUSED CURRENT HEDGING STRATEGY & TO MONITOR DEVELOPMENTS BEFORE ENTERING INTO ADDITIONAL HEDGES
• TOO EARLY TO PROVIDE ANY FURTHER COMMENTS ON NEXT STEPS REGARDING INVESTMENT IN VIRGIN AUSTRALIA
• AUSTRALIA REMAINS IMPORTANT MARKET TO CO AND TO EVALUATE OPTIONS IN DUE COURSE
• WE BELIEVE THAT VISTARA IS WELL-POSITIONED FOR RECOVERY POST COVID-19
• EQUITY INVESTMENT IN VIRGIN AUSTRALIA FULLY PROVIDED AND CO HAS NO LOANS TO VIRGIN AUSTRALIA