March 3 (Reuters) - Higher oil prices due to the war with Iran are driving up jet fuel prices, which account for a large part of airlines' costs.

Brent crude rose to more than $80 a barrel on Tuesday due to concerns about supply disruptions.

Some airlines are turning to futures contracts and other options to hedge against rising prices. They are also trying to hedge against changes in the value of the dollar, in which jet fuel is priced.

The following is a summary of the hedging measures taken by some of the world's largest airlines:

* Air France (KLM)

The Franco-Dutch group said in February that it had revised its fuel risk hedging policy and increased its total coverage for one year's consumption from 68 percent to 87 percent. It also said it had extended the hedging horizon from 18 months to two years and increased hedging ratios.

Air New Zealand

New Zealand's national airline announced in February that it had hedged 83 percent of its fuel needs for the second half of the financial year and 46 percent for the first half of the year extending to 2027.

She said the majority of hedging operations were in Brent crude, with some jet fuel swap transactions expected to be completed in the Singapore market during the second half of this year.

Cathay Pacific

Hong Kong’s main airline said last year that it was hedging to cover its fuel needs through the second quarter of 2027, covering about 30 percent of costs through the second quarter of 2026.

China Eastern Airlines

The state-owned airline said it had conducted thorough assessments based on derivatives market conditions and had not engaged in any jet fuel hedging transactions in the first half of 2025. As of June 30, 2025, it had no outstanding jet fuel hedging contracts.

EasyJet

British budget airline EasyJet said in January that it had covered 84 percent of its fuel needs for the first half of this year, 62 percent for the second half and 43 percent for the first half of 2027 at an average cost of $715, $688 and $671 per ton respectively.

The company owns 80 percent of the cost it expects to need in the first half of the year, which it purchased at $1.30 per pound, 62 percent for the second half at $1.24 per pound, and 40 percent for the first half of 2027 at $1.32 per pound.

Finnair

In December, Finnish airline Finnair updated its risk management policy to extend its hedging coverage to 24 months from 18 months previously.

The company covered 219 tons of fuel for the first quarter at an average price of $718 per ton, and a total of 834 tons of fuel during the second quarter of 2027, at an average price of $697 per ton.

The company aims to achieve a hedging ratio of between 70 percent and 95 percent during the first three months of the hedging period, with the hedging ratio limits decreasing in each subsequent quarter.

* IAG

The company that owns British Airways and Iberia said in February that its coverage for fuel and currency risks fell by about nine percent in 2025 compared to the previous year.

She added that her policy includes hedging according to a renewable mechanism that extends for three years with hedging of up to 75 percent of expected needs in the near term, and up to 80 percent for low-cost airlines.

Icelandair

Icelandair said in February that it planned to hedge between 20 percent and 50 percent of its estimated fuel consumption for the next six months, 0 percent to 40 percent for the next seven to 12 months, and 0 to 20 percent for the next 13 to 18 months.

She added that a 10 percent increase in fuel prices would have an impact of $11.6 million on her equity.

Lufthansa

The German airline said last year that it covers fuel risks for up to 24 months. It added that its hedging at the end of 2024 covered approximately 76 percent of its projected fuel requirements for 2025 and about 28 percent of its projected requirements for 2026.

Norwegian Air

Norwegian Air said in February that it had hedged about 45 percent of its expected fuel consumption in 2026 and about 25 percent in 2027.

Qantas

The Australian airline announced in February that it had covered 81 percent of its fuel needs for the second half of its financial year ending June 30, 2026.

Ryanair

Ryanair chief executive Michael O'Leary said in January that the Irish airline had covered 84 percent of its needs at $77 a barrel for the current quarter.

* S.A.S

Scandinavia's largest airline said last year that it had temporarily altered its fuel hedging policy due to unstable market conditions, and that it had covered zero percent of fuel consumption in the following 12 months.

The company's hedging policy targets between 40 percent and 80 percent of the expected volumes in the next 12 months, and allows hedging of up to 50 percent for the following six months.

Singapore Airlines

The company said in November that it was covering its fuel needs for up to five years, with 49 percent of its fuel covered in the quarter ending in December and 47 percent in the quarter ending in March, dropping to 24 percent in the second half of the full year through 2027 and seven percent in subsequent years.

She said she pays between $66 and $69 a barrel for hedging Brent crude, and between $79 and $87 a barrel for crude linked to the Singapore price index .

Virgin Australia

The Australian airline said in February that it covers 85 percent of its fuel and 94 percent of its foreign currency for the second half of its financial year.

* Wizz Air

Hungarian budget airline Wizz Air said in January that it was covering 83 percent of its jet fuel needs for the year ending March 2026 at a price between $681 and $749 per ton.

She added that it covered 55 percent of its needs for the full year up to 2027 and seven percent for the full year up to 2028 at a price ranging between $650 and $716 per ton and $628 and $694 per ton respectively.