Virgin America Selects Reval for Commodities Hedging
US airline Virgin America has selected Reval’s software-as-a-service (SaaS) solution to support the derivative risk management and hedge accounting of its commodities portfolio.
With the straight-through processing (STP) workflow of Reval’s SaaS solution, Virgin America will be able to adopt hedge accounting under the requirements of ASC 815, automate the testing of its fuel hedging programme and report on its performance.
“Reval is well known for the depth of its expertise and the strength of its SaaS solution,” said Virgin America senior vice president (SVP) and chief financial officer (CFO) Holly Nelson. “This kind of support will be important to automate our risk management process as we expand across North America.”
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