Originally Posted by
cbn42
They should be required to have enough cash on hand to weather a downturn of a certain intensity. If we tell individuals to have a 6 month emergency fund in case they lose their job, why shouldn't airlines have a similar requirement?
The major US airlines were prepared to handle another 9/11-scale event. Nobody was prepared to have an 80%+ reduction in flights then still operate at less than a 15% load factor on the remaining flights.
No business in prepared for a >95% reduction in revenue.