Price jump causes concern for airline

Buying time: A Qantas passenger plane at Sydney International Airport. The airline has hedged 90% of its fuel needs through the end of June and 50% in the following quarter. — AFP

SYDNEY: Qantas Airways Ltd expects airfares will need to rise to cover the cost of higher fuel prices as its oil hedging contracts expire, its chief executive said yesterday.

Qantas has hedged 90% of its fuel needs through the end of June and 50% in the following quarter, chief executive Alan Joyce said.