Profane Kahuna

Thank you for the link.

From the article: “the airline industry requested a nearly $60 billion bailout from Congress this week, including $29 billion in grants and another $29 billion in loans or loan guarantees.”

So it’s $29 Billion bailout and $29 Billion loan.

“Later, Sen. Jack Reed, a Democrat on the Appropriations Committee, told POLITICO that demands could also include limits on executive pay and provisions that would see taxpayers take on stock in airlines, similar to how the government bailed out banks during the 2008 financial crisis.”

Oooooh that’s gonna hurt. Anyone who owned auto stocks in 2008 got wiped out.

Also, isn’t that how Chrysler ended up being bought out by Fiat? So who’s going to get that raw deal? American gets bought by Lufthansa and stapled? Or maybe it will be United stapled to Air France KLM?

Name User

To be fair, the government just prints/creates money and then funds these loans. Not really the same thing as loaning money from their savings account.

GogglesPisano

What planet do you live on?

rickair7777

The euro airlines will be lucky to survive, they won't be buying anyone over here (even if foriegn control of US airlines was remotely legal, which it's not).

Profane Kahuna

Yeah I know. But if you told people at the start of 2008 that the US Government would force Chrysler to sell itself to Fiat would anyone have believed you?

My point is that government bailouts open up a can of worms that is called “the government gets to tell you how to run your business”. Today, the government includes people such as Bernie and AOC.

So.....good luck to those of you wishing for bailouts!

highfarfast

I don't think the airlines should be asking for bailouts. They should be asking for reparations due to government mandated shutdowns and the effects the panic of said shutdowns had on the rest of the system.

I know the public will view it in the same manner as the bank bailouts but it is not the same thing at all and the airline industry should be banding together to make this point.

Banzai

Airline industry is collectively asking for $50bn, while Boeing alone is asking for $60bn.

Boeing did most of the damage to themselves prior to this. And a healthy airline sector means a healthy Boeing.

Varsity

Should just let all the majors go under and reorganize. Probably liquidate a couple.

Then we could get decent cabin service, without the 1971 DOH flight attendants.

ReadOnly7

translation.....they didn’t hire me, so now I want to see the whole thing burn.

PilotJ3

Liquidate a couple???? You seriously want pilots/FAs/everyone else that works for X or Y company to lose their job?

wow...