structural oil supply and demand shocks. We find that investing in the Datastream World Airline Index offers a hedging benefit … Hamilton (2019), we investigate the conditional comovement of airline stock returns with real oil prices in response to … negative comovement following shocks to world economic activity and airline stock returns. …

structural oil supply and demand shocks. We find that investing in the Datastream World Airline Index offers a hedging benefit … Hamilton (2019), we investigate the conditional comovement of airline stock returns with real oil prices in response to … negative comovement following shocks to world economic activity and airline stock returns …

's cash-flows. This paper presents a case study approach demonstrating the hedging strategy employed by an international air … nonlinear hedging instruments by providing an in-depth analysis of the firm's hedging policy and its derivative usage. Using the …-tune its current hedging portfolio by adding tailored exotic options. Specifically, we develop an annual average-price option …

Purpose: Investigation of the relation between firms’ values and aviation fuel hedging activities via a dynamic panel … data from nine U.S. major passenger airlines representing 77.2 per cent of the U.S. domestic airline industry, in terms of … statistically significant long run relationship between firms’ values and aviation fuel hedging activities for the U.S. major …