FACTBOX: Asia-Pacific airlines' jet fuel hedging levels

SINGAPORE (Reuters) - Airlines in the Asia-Pacific region have adopted different strategies to deal with high oil prices, some opting to hedge their entire jet fuel needs, while others leave themselves exposed to fluctuations in fuel costs.

Many have recently cut back hedge in the face of record-high oil prices, which hit $147.27 last month before recently easing to below $120 a barrel.

The following is a sample of some Asian airlines' fuel hedging levels, actual or planned, from company or industry sources. Those with the latest ratios are marked with an asterisk.

It includes previous levels for comparison, and will be updated as information becomes available. AIRLINE HEDGING LEVEL PERIOD PRICE ($/BBL) ============================================================== AirAsia* Nil H2 2008

40% as of Oct 06 N/A

100% June 2006 N/A

100% 2005 $50-$62 Air China below 20% 2005 N/A

50% 2006 N/A Air India* Nil current

10,000bbls 2006 N/A Air New Zealand* 34% Oct-Dec 08 $77.80-$95.64/B

65% July-Sept 08 $73.81-$91.06/B 83% Apr-Jun 08 $69.37-$83.81/B 83% Jan-Mar 08 $63.75-$75.74/B

60% July 06-Jun 07 $71

85% H1 2008 $60.55-$69.33/B

60% H2 2008 $62.23-$73.46/B All Nippon Airways* 80% March 08-Apr 09

80% March 07-Apr 09

100% Apr 05-Mar 06 N/A

100% Apr 06-Mar 07 N/A

75% Apr 07-Mar 08 NA Asiana Airlines 32% as of Oct 06 N/A Cathay Pacific Airways 15% Q3 2005 N/A

(aimed for 33%) H1 2006 N/A

40% H2 2006 N/A

55% H1 2007 N/A

42% H2 2007 N/A China Airlines 60% 2005 N/A

65% H1 2006 N/A China Eastern 40% as of Oct 06 N/A EVA Airways

45% H1 2006 N/A

35% H2 2006 $80/B Japan Airlines* 75% March 08-Apr 09

90% March 07-Apr 08

75% Apr 05-Mar 06 $61/B

89% Apr 06-Mar 07 $69/B

77% Apr 07-Mar 08 N/A Jet Airways 10,000bbls 2006 $73 Korean Air

30% 2005 N/A

20% Q2 2006 N/A

(aims for 100%) 2006 N/A Malaysia Airlines up to 75% Q3 2005 N/A

76% 2006 $58

61% 2007 $60/B

18% 2008 $62/B Pakistan's PIA 20-25% 2007 N/A Philippine Airlines* NA

60% Apr 07-March 08 Singapore Airlines* 30-60% as of May 08 $104-$109/B

33% 2005/2006 N/A

(aims up to 60%) Thai Airways* 30% of three mths demand/2008

20-30% previously

15% Q3 2005 $74

22% Q4 2005 $71

20% H1 2006 N/A

5% July 2006 $75-$80

10% Oct 06 $85 Qantas* 65% FY 08/09 $116/B

100% FY 07/08 $75/B

60% 2005 $49.50

100% Jan 2006 $55

68% July 2007-June 2008 $73/B Virgin Blue Substantial Q4 2005 N/A

0% 2006 N/A

89% 2007 28% swaps $69.23

61% call options $70

49% July 2007-June 2008 Vietnam Airlines NA Pacific Air NAl (Reporting by Aiko Hayashi in Tokyo, Adrian Bathgate in Wellington, Arada Therdthammakun in Bangkok, Rob Taylor in Sydney, Rina Chandran in New Delhi, Rosemarie Francisco in Manila, and Felicia Loo in Singapore; Editing by Ramthan Hussain)