A gestão do risco na indústria da aviação: o caso da Jet Fuel

• Autor(a) principal: Subhaschandra, Dhiren
• Data de Publicação: 2007
• Tipo de documento: Dissertação
• Idioma: por
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10071/630
• topic: Aviação; Gestão do risco; Instrumentos para hedging; Jet fuel; Aviation; Risk management; Hedging instruments; Commodities

In the current context of great uncertainty, risk management has assumed an important role in the organizations. The actual environment of fierce competition and the volatility associated with financial markets and commodities prices have led to an increasing search of the derivatives. This thesis intends to approach the risk that the airlines face due to the instability of the oil market. Jet fuel is one of the most important costs that airlines support, being in some cases the biggest cost. To achieve a discount in the unit cost of jet fuel relative to the market price can mean an excellent competitive advantage against the other competitors in the aviation business. Lufthansa is known as one of the best airline carrier in terms of managing the risk of jet fuel price. Using the German company as an example, this study describes how to develop a strategy to manage efficiently the risk of jet fuel and to assess the impact in the accounts of the company.