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Cathay Pacific Airlines Case Study Essay Preview: Cathay Pacific Airlines Case Study Report this essay ContentsIntroduction 2Why does the oil price volatile 2Fuel price risk of airlines 4The impact of shale oil and shale gas to energy prices 5Forward and future Contracts 6Example of Forward Agreements 6Options 6Introduction – hedge with exchange traded futures contract 7Difficult of hedge with exchange traded futures 9Common model.