Originally Posted by
Adlerdriver
This.
Some are equating the extreme case of Covid with all possible downturn scenarios. There are many shades of falter that don’t mean outright failure. “Too big to fail”doesn’t mean an industry downturn won’t drive a furlough at airline X if they over extend themselves or fail to plan properly. The government isn’t going to step in and stop a simple furlough.
Overextending and never ending growth in the good times are the hallmark of the big three. Grab as much cash as humanly possible for the shareholders and execs by whatever means necessary. Good retirement numbers will soften a downturn, but that all depends on the severity of the downturn. Industry consolidation has also helped. I will now get an earful by the angry bitter posters about my ignorance and naivety about the industry and how great things are in pax land. What do I know though besides watching airline family employees post 9/11 and starting my career in 2006.