Delta Air Lines posts loss after fuel hedging, upbeat on new year

Not only do I not feel sorry for delta, I am ecstatic that a lot of futures traders are going broke.

(Duplicate Squawk Submitted)

Delta Air Lines Announces December Quarter Results

Delta Air Lines (DAL) today reported financial results for the December 2014 quarter

http://finance.yahoo.com/news/delta-air-lines-announces-december-123000879.html

Stupid, stupid and more stupid. A hedged transaction, when done properly, is a risk free transaction. In stock transactions buying the stock and selling a call against the stock is a hedged transaction or sometimes called a covered transaction. Companies that receive large amounts of foreign currencies may hedge this influx of currency by selling a currency future and thus avoid the risk of currency transactions. To lose $712 million of their stockholders money in a hedge should result in some management changes. If you believe that anyone at Delta will even feel this $712 million loss let alone suffer from it then you still believe in Santa Claus.

So it wasn't a hedge exactly?