Steep capacity cut leaves airlines with overhedged jet fuel headache

SYDNEY/SINGAPORE (Reuters) - The collapse in global passenger flights has left airlines with fresh challenges: how to manage overhedged jet fuel positions as oil prices crashed to just a third of some contracts agreed in anticipation of rising prices and solid air travel demand.A shattered global airline industry is now seeking tens of billions dollars from state bail-outs to absorb the shock from the coronavirus pandemic, as many have grounded almost entire fleets and placed thousands of..