for someone that spends so much time on the internet, you have a woefully poor ability to comprehend what has been written. You also are just plain ignorant of multiple subjects.
I never said that hedging losses aren't material. I DID say that hedging losses at carriers that have them will be offset by revenue gains elsewhere. and AA's lack of hedging losses will be offset by other issues including currency losses.
in case you missed it, most airlines have not provided a great deal of guidance for future earnings which means that for the near term, there really is no great movement in profitability expected.
second, DL is a refiner, not a producer. A refinery uses crude oil at market prices.
You wanna stand by your bet that Trainer will post losses bcause of the drop in crude oil prices?
and DL like AA and every other public company will report what their internal books say they have to report. If profit sharing takes a bigger share of their profits and reduces their net profits, they will report it. If fuel hedge losses eat away at profits, they will report it. The chances are very high that DL's 4th quarter 2014 earnings will include significant mark to market losses for fuel hedges.
Likewise, if AA has to report that currency in Latin America is hurting revenue and is resulting in impaired revenue, they will report it.
that is what real companies do and not create some scenario that is detached from reality.
