Hedging program

easyJet PLC
28 May 2003

28 May 2003



easyJet to commence hedging program



The Board of easyJet plc announces that it has decided to commence a program of
hedging Jet A1 fuel costs and US dollar foreign currency exposures. The Board
believes this new policy is now appropriate given the increased size of the
easyJet airline business.   A hedge position will be gradually developed over
forthcoming months and will be primarily intended to provide protection against
major fuel price and exchange rate movements.  US dollar payments relating to
the purchase of aircraft are not to be included in this new policy, however
consideration may be given to including these at a future time.



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