As at 28 March 2008, the Air France-KLM Group's hedging policy for fuel expenditure was as follows

	2007-08	2008-09	2009-10	2010-11
Brent IPE ($/barrel)	82	102	99	98
Jet Fuel CIF NWE ($/ton)	803	1,021	968	938
Fuel consumption (in thousand m3)	11,518	12,003	12,428	12,741
Percentage of the consumption hedged (%)	81%	75%	55%	36%
Final cost in Brent IPE ($/barrel)	66	74	80	87
Fuel expense before hedging (in $bn)	7.5	10.1	10.0	9.9
Fuel expense after hedging (in $bn)	6.4	8.0	8.5	9.0

We remind you that this is a snapshot taken at on specific moment, and that the various items may change according to the market price, the volume covered and the hedging instruments used (see Reference Document 2006-07).