Wednesday, December 3, 2008

Flying Low

Air Canada has locked itself into a financial hell.

This summer, Canada's favorite airline entered a fuel hedging arrangement that saw it agree to prices into the known future.

Now that crude has dropped 68%, and the rest of us are enjoying some momentary relief at the pumps, AC is still shelling out the big bucks and will continue to do so for some time.

Brilliant! More! More!

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