Europe Considers Requiring Visas for US Citizens Plus the Flying Credit Card

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About Gary Leff

Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

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  1. Your comment about fuel hedges misses the whole point of hedging: it’s insurance. I’ve had car insurance for more than 20 years, and in all but one of those years, I lost money on it. Should I stop buying car insurance?

  2. @Andy, hedging is exactly like insurance. If united really lost hundreds of millions on oil futures, then they weren’t hedging, they were speculating. More likely, they were forced to mark to market and had to show losses on their contracts, but those would be paper losses, not real ones. Their is also some possibility that because oil is not a perfect hedge to airplane fuel, that there was some sort of fundamental shift in the relative price between the two that went against them. In reality, if they can buy futures on airplane fuel and they buy as much as they will need, it is a perfect hedge and is insurance against rising prices.

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