Originally Posted by
prat985
Well, it’s been months since the bailout. I’m retired airline and find it unbelievable the government kept airlines afloat till the end of September....Really not sure why. Sure would’nt have happened in the 60’s and 70’s. The strong survive is the way it’s supposed to be but not anymore, I guess.
You airline boys don’t know how lucky you are !
This is a little ignorant to say the least. This was a government mandated shutdown that caused a 96% drop in demand. Many sections of the economy received a “bailout.” No business sits on enough cash to handle this, all liquidity markets were closed. The only way to get the economy moving was to either keep it open or flood it with cash. All companies have since been able to raise significant cash to the benefit of the entire economy.
AAL, UAL, and DAL would’ve furloughed 75% of their employees then probably still failed in that order. Some LCC’s would remain for domestic flying but our country and industry would’ve been devastated for decades. But yes...we all were lucky that there was a no furlough until October 1 clause. And the reason Virgin Australia is not being bailed out by a government is because they are not an Australian owned company. They have enough to worry about...why would they help Branson. Similar to how none of the foreign owned cruise lines received a bailout here.