A Kenya Airways plane. [Photo/ africadv.com]
Kenya Airways is in talks with its partners to sign a hedging contract amid rising fuel prices.Kenya Airways CEO Sebastian Mikosz said the hedging products they have been using expired three months ago, adding that the airline is keen to renew the contracts.“We have been using the hedging products in the past. The products expired roughly three months ago. What we want, now we are in post-restructuring, is to start talking hedging again,” said Mikosz, as quoted by was quoted by Bloomberg.For the first time since 2014, oil prices hit the highest level on Thursday, with a barrel retaining at above USD 70.According to the Kenya Wallstreet, the high prices are expected to continue throughout 2018 and were occasioned by an agreement between OPEC & other major exporters like Russia that are implementing output cuts of up to 1.8 million barrels a day.Like any other airline, Kenya Airways seeks to take advantage of the current hedged oil prices to lock in better prices throughout 2018 in its bid to return to profitability.