airline industry as an example and derives the optimal fuel cost hedging ratio as a function of firm-specific revenue and cost … capture the time-variation in the fuel cost hedging demand for a typical airline. By regressing the logarithm of Tobin's Q … market hedging demand is high. More important, we use the time-series correlation between an airline's hedging ratio and the …

airline fuel costs. Our estimation results suggest that differences in reported fuel costs across airlines (due to …Major airlines rely on fuel hedging to manage risk of volatile fuel prices. We show that fuel hedging leads to lump sum … heterogeneous fuel hedging outcomes) lead to significant differences in ticket prices. In particular, a 10% reduction in the …

Airline fuel consumption is costly for the firms and for society as well due to a climate-change externality. We study … externality. The airline industry's capital stock can be easily inventoried as a set of long-lived, durable aircraft. This …. Changes in airline operations directed toward conserving fuel can be an important path toward lower emissions …

Airline fuel consumption is costly for the firms and for society as well due to a climate-change externality. We study … externality. The airline industry's capital stock can be easily inventoried as a set of long-lived, durable aircraft. This …. Changes in airline operations directed toward conserving fuel can be an important path toward lower emissions. …

Airline fuel consumption is costly for the firms and for society as well due to a climate-change externality. We study … externality. The airline industry's capital stock can be easily inventoried as a set of long-lived, durable aircraft. This …. Changes in airline operations directed toward conserving fuel can be an important path toward lower emissions. …

difference, among the merging firms. We use a sample of 19 horizontal M&As in the international airline industry and data … spanning from 1980-2012. Our models show that M&As do not affect unit costs in a significant way, unless the relative size … difference of the merging firms is large, in which case we detect an increase in unit costs …