“Only good news is that the number was still positive despite the high number of cancellations.”
“We are temporarily a company with no product and no revenue.”
All eyes are on China to see how air transport will change in the aftermath of the crisis.
Chapter 11 bankruptcy that wipes out shareholders is the correct solution for collapsing share-buyback queens. US airlines already know this from experience. It works.
Of immediate concern is how much cash Boeing is burning due to the 737 MAX fiasco and now the coronavirus, and how much cash it can pile up to avoid a liquidity crisis.
Airline bonds, holy moly.
Estimated hit to global air passenger revenues quadruples to $113 billion. Stocks of top-seven US airlines plunged 30% in 15 trading days, after getting massacred today.
But for its still pre-coronavirus quarter, Navistar reported today that its Truck revenues collapsed by 31%.
Boeing got battered too but not nearly enough. Introducing my SADJAUS stock index tracking the 7 largest US airlines.
Everyone is trying to figure out how to get around the sudden hurdles.