Facing Crappiest Recovery Ever, Airlines Demand New $25-Billion Bailout, for $50 Billion Total, after Having Burned $45 Billion on Share Buybacks by Wolf Richter • Sep 28, 2020 • 133 Comments Coddled investors, not taxpayers, should step up to the plate and fund the “daily cash burn.”
Grim Summer Turns to Long Cold Winter for European Airlines as Passenger Traffic Dives Again by Nick Corbishley • Sep 23, 2020 • 44 Comments A struggle for basic survival and for new money to burn.
Airlines, Trying to Dodge Bankruptcy with Air Travel Still Down 70%, Threaten Oct. Jobs Massacre Unless they Get 2nd Bailout by Wolf Richter • Aug 26, 2020 • 130 Comments “Unfortunately, we see few catalysts over the next six months to meaningfully change this trajectory”: Delta.
No, Americans Aren’t Suddenly Flying Again, Despite What the Media Said Today to Boost Stocks of Airlines and Boeing by Wolf Richter • Aug 10, 2020 • 102 Comments But another $25-billion taxpayer bailout is tucked into the stimulus package. The stock market loves bailouts and hates the effects of capitalism.
Bailout Air Europa, to Be Acquired by IAG — Owner of British Airways and Spain’s Top 2 Airlines — Doesn’t Pass Smell Test by Nick Corbishley • Aug 10, 2020 • 18 Comments IAG seeks aid from Spain to buy Spain’s #3 airline for a near-monopoly in Spain. The family that’s selling Air Europa seeks that bailout too.
Going to Be Tough for Airlines, Full Recovery Moved to 2024: IATA by Wolf Richter • Jul 29, 2020 • 52 Comments International air passenger volume still down 96.8%.
Update on the WTF-Collapse of Consumption of Gasoline, Jet Fuel & Diesel by Wolf Richter • Jul 23, 2020 • 65 Comments Folks started driving again – including those who used to take mass-transit. But jet fuel demand is still in collapse-mode. And overall consumption remains way down.
“Demand to Remain Suppressed” till Vaccine/Treatment Widely Available: United Airlines. May Not Happen till Late 2021 “or Even Later”: Health Care Leaders by Wolf Richter • Jul 21, 2020 • 108 Comments Flattened-out fish-hook-shaped recovery of demand?
Bailout of Trucking Company YRC, Near Bankruptcy Before Covid-19, Ripped by Congressional Watchdog by Wolf Richter • Jul 21, 2020 • 69 Comments It wants to know: Why was YRC even bailed out? And why was the taxpayer put at so much risk? What’s going on here?
Recovery of Collapsed Air Passenger Traffic in the US Backtracks by Wolf Richter • Jul 20, 2020 • 104 Comments Confirming early warnings by United and Delta of re-declining ticket sales. V-Recovery has to wait in line. Airline shares down 3.7% intraday.
