Originally Posted by
San Gottardo
But that is precisely where the equation won’t work any more: many planes on the ground/more than planned, not generating any cash, cash that is missing for the refurbishment.
I am quite pessimistic for a sustained refurbishment program.
I understand that liquidity is a concern in the short-term, however companies which invest in times of a crisis will come back stronger afterwards. I understand that they cannot run the full refurbishment program now, however when we see demand coming back gradually, they should use the incoming cash-flow from operations for investments in the still grounded part of the fleet.