Political polarization and anti-corporate populism. Just look at the price various politicians paid for supporting the bailout after the financial crisis (https://www.nytimes.com/2010/07/11/u...cs/11tarp.html) and things are worse now. One might argue that airlines are not as hated as financial institutions, and things are different in that the travel industry didn't bring the pandemic on themselves--and they'd be correct--but that should be little comfort to airline CEOs.