They didn’t get bailed out by taxpayers. But in a radical experiment these days, investors got to eat the losses, as they should.
$43 billion incinerated on Share Buybacks since 2012 to manipulate up the share price would come in handy now. Shares -60% since June 2019.
Better produce a big-fat stimulus bill pronto and keep eviction bans and forbearance going, or else these companies will face economic reality.
What the TSA said in its PR stunt and what it forgot to say.
“You’re the Collateral.” Separating the assets (including you) from the liabilities (your miles), and pledging the assets.
Eight months into crisis, airlines are stuck in worst recovery ever.
Coddled investors, not taxpayers, should step up to the plate and fund the “daily cash burn.”
A struggle for basic survival and for new money to burn.
“Unfortunately, we see few catalysts over the next six months to meaningfully change this trajectory”: Delta.
But another $25-billion taxpayer bailout is tucked into the stimulus package. The stock market loves bailouts and hates the effects of capitalism.