Thanks for digging this out. Yes, that's what I thought I heard during the conference call. Not sure what Sailingfun is on about.

"The biggest cost opportunity ahead of us is fuel. We restructured our hedge book this quarter,
which will put the bulk of our hedge losses behind us after this quarter. So starting July 1, we will
have significant tailwind from fuel, with fuel prices 25% lower than what we’ll pay in the first half of
the year."

For the second half of the year, given the hedge book restructuring, we expect our fuel price per
gallon to be consistent with the industry average. We have a total of about $300 million in hedge
losses for the second half and 90% to 95% downside participation to a Brent price of approximately
$40 a barrel. This will equate to roughly 25% lower price per gallon for Delta in the second half
relative to the first. For the second half of the year, we expect our all-in fuel price to be in the range
of $2 and $2.05 per gallon, which is approximately $0.70 to $0.75 lower than 2014.
Overall, we continue to expect fuel cost to be an enormous tailwind and provide a net benefit of
$2.2 billion for Delta for the year. We’re also well-positioned to benefit if fuel remains at these levels
in 2016.
As a result, our already strong cash flow will continue to grow, which will allow us to further
strengthen the balance sheet by paying down debt, fund our pension plans and return cash to
shareholders in 2015 and beyond.