After an intense competitive search, US Airways has selected FUTRAK® to help manage its fuel hedging program. US Air has 3,300 daily departures with a fleet of 283 jets consuming a tremendous amount of fuel. In order to effectively manage its jet fuel procurement, US Air utilizes hedging techniques to reduce its costs. "With many airlines suffering because of the increase in jet fuel prices, especially at the LA location, the choice was easily made to implement software to assist in making hedge decisions, as well as to streamline the hedging process across multiple business centers," commented Richard W. Kulaszewski. "We have done a tremendous amount of work on FUTRAK® to compete in the airline space, and we welcome US Airways as our first of many airline clients."
About US Airways: US Airways Group, Inc. is primarily engaged in the operation of a network air carrier through its ownership of the common stock of US Airways, Inc., Allegheny Airlines, Inc. (Allegheny), Piedmont Airlines, Inc. (Piedmont), PSA Airlines, Inc. (PSA), MidAtlantic Airways, Inc. (MidAtlantic), US Airways Leasing and Sales, Inc., Material Services Company, Inc. (MSC) and Airways Assurance Limited, LLC (AAL). As of December 31, 2003, the subsidiary operated 282 jet aircraft and provided regularly scheduled service at 90 airports in the continental United States, Canada, Mexico, France, Germany, Italy, Spain, Ireland, the Netherlands, the United Kingdom and the Caribbean.
About INSSINC: Founded in 1983, INSSINC has provided companies with hedge accounting and risk management software for over 20 years. FUTRAK®, the risk management and FAS 133 software, can be deployed as an ASP or on-site for energy companies including: E&P, gas gatherers, pipelines, refiners, petrochemical firms, power utilities, LDC's energy retailers, municipals, cooperatives, airlines, and energy merchants. In addition, INSSINC provides support for natural gas, crude, power, NGLs and refined products.