Originally Posted by
ft101
And without this credit they would go under and all the benefits of flying that have built up over the years due to easyJet and the like would be gone. I'd rather extend them some credit than watch them go under - although I would like at least a little bit of interest.

Isn't that what the government is for? Bail them out, take a stake in the company, and the taxpayers share the risk. While, as a taxpayer, you may have a small part of that risk, it is not disproportionately on you.
Many carriers are offering a 20% or fixed amount premium for those accepting a credit when they could have a refund. That becomes more appealing.