1a) Are derivatives financial weapons of mass destruction?. Express in your own words about 100-120 words to discuss the pros and cons of derivatives as mentioned in the above statement by Warren Buffett.

An ABC Airlines Company Limited anticipates that the travel business will be recovered to normal operation in Year 2022. The price of WTI crude oil is currently at US$60.00. 1b) Explain to the Airlines company with application of pros and cons of forward contracts. 1c) Explain to the Airlines company with application of pros and cons of futures contracts.