FACTBOX-U.S. airlines' fuel hedging positions

Dec 23 (Reuters) - U.S. airlines have hedged the price of
oil to protect themselves from rising fuel costs, but some may
end up losing money on hedges if the price of crude oil
continues to fall.

U.S. crude oil future CLc1 traded near $39 a barrel in
New York on Tuesday, down from an all-time high above $147 in
mid-July.

The following table shows airlines' fuel hedging positions
as reported by the carriers:
AIRLINE PERIOD PCT HEDGED PRICE
Delta Air Lines Q1 09 63 $2.87-$3.39/gln
(DAL.N: Quote, Profile, Research) Q2 09 36 $2.71-$3.33/gln

Q3 09 40 $1.32-$2.70/gln

Q4 09 20 $0.80-$2.70/gln

FY 09 37 $2.09-$3.06/gln
American Airlines FY 09 34 $71-$99/bbl oil
(AMR.N: Quote, Profile, Research)
United Airlines FY 09 28 $101-$114/bbl oil
(UAUA.O: Quote, Profile, Research)
Continental Airlines FY 09 22 not disclosed
(CAL.N: Quote, Profile, Research)
US Airways no guidance for 2009
(LCC.N: Quote, Profile, Research)
Southwest Airlines FY 09 75 $73/bbl oil average
(LUV.N: Quote, Profile, Research) FY 10 50 $90/bbl oil avg

FY 11 40 $93/bbl oil avg
(Reporting by Kyle Peterson; Editing by Tim Dobbyn)