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.
Having become a master of financial engineering instead of aircraft engineering. UPDATED with the announcement on Jan 21 that “ungrounding” of the 737 MAX will be further delayed.
