Francisco lorenzo
Along with Gordon Gecko and Bud Fox, made the airline business one of the most corrupt businesses in the world. Using CH 11 to usurp contracts and just dump your obligations. Miami Air is doing it right now. Management has been getting away with dirty practices for years. It's because they are in the circle of trust AND they meet in Wyoming every year to talk about how to beat labor and abuse the very system they are in charge of. The group actually has a name but I forget it.
The other BIG issue was that, when Reagan was El Presidente, he took money from the very fund you speak of called the "Airway and Airport Development act" and used it for anything but developing anything in our national airspace. Fedrico Pena did get a new airport in Denver but that was a long time ago and the last airport that has been built in quite some time. ATC is still from the 70s yet airlines still pay tax on it. LGA is getting a makeover OH YEAYYYY!
Another issue is that airlines are taxed up the kilt. Look at a ticket if you ever buy one. The TSA tax alone is big. And if you look at what Londons Heathrow charges, you'd be shocked. So it does not surprise me when the airlines come screaming for help. The bailout just gets passed on to another generation while we raise our debt. Truthfully, we are all living on borrowed time and this may be it. Airlines margins, even with ancillary revenue, are razor thin. Some will fall if this pandemic does not get better soon.
Right after Sept 11 if Delta and United did not get bail out money they were shutting down. Here we are again. Is regulation the answer, NO, I do not think it is. However, business practices need to be changed and management held responsible. In Europe, if you file CH 11 you stop flying. The CH 11 laws should be changed for sure.
Lorenzo is still alive to this day and never spent one day in jail. He changed the course of the airline business forever. Guess who was President back then? Do you know whom Lorenzo was friends with, that's right George Bush the VP. My point, the big CEOs have always had Washington on their six.
Let's just hope for the best but as employees, we really need to hold management accountable from now on.