They had it hedged at a high price before the lockdowns and before the oil price collapsed. I remember that they unwound those hedges (at a loss) when the oil price was low and when they weren't really using much fuel but I don't believe that they've put in any significant hedges back in place yet. They can do so now with some more certainty regarding the lifting of travel restrictions, but it's at these fairly high prices now. So they're back to ongoing operational losses in any case.
It's just crazy that anybody could possible believe that this company can be profitable before they run out of money again. There is simply no scenario in which this could happen.
Will QAN survive?, page-2334
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$6.10 |
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| No. | Vol. | Price($) |
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