Originally Posted by
RJDio
Not sure how things are worse now? The ir is a look back at the q2 result. A period that had lower tsa numbers than today. And by their own admission PSP proceeds were not included in the cash burn.
Now will the winter be worse than q2? Maybe. Travel slumps in the winter historically. But there are also multiple vaccines on the horizon slated for a winter release that may have a positive impact on travel.
Things are worse because the future bookings that they planned on didn't materialize. Plus a lot of cancellations.
So the $25M/day cash burn in Q3 will end up being too optimistic.
You're glossing over other problems that are starting to surface. Take a look at loan delinquencies. Main street is showing severe economic distress.
https://www.mba.org/2020-press-relea...%20Delinquency
Note:
The nearly 4 percentage point jump in the delinquency rate was the biggest quarterly rise in the history of MBA's survey,
Worst increase in the history of MBA's survey. That goes back to 1990.