Air Cargo and Passenger Recovery Strategy
Financial Risk Management (CI)
1.Fuel Cost: Hedging ratio is 4.5% during next six months
2020 Q1-Q3
Jet Fuel (MOPS)
USD/BBL
Fuel Consumption
10KBBL
Fuel Expend
TWD/100Million
Hedging Loss (Gain) TWD/100Million
Total Fuel Cost
TWD/100Million
2. Exchange rate hedging
2021 Q1-Q3
YOY%
44.04
70.75
60.65%
1,026.71
1,059.95
3.24%
167.38
223.27
33.39%
0.34
167.72
-0.02
223.25 33.11%
The current cash position of US Dollars well manages to offset the unrealized
gains(losses) of the US Dollars liabilities caused by the exchange rate, as the effect
of natural hedging.
3. Interest rate hedging
ā As of Sep 30 2021, The portion of Fixed-rate borrowing positions was approximate
18%.
ā Keeping a close watch on the monetary policy trends of major economies and
formulate hedging strategies based on market dynamics.
CHINA AIRLINES
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