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Off-Air.
"We have a great plan for the airlines", Donald Trump said, during the Friday edition of his daily White House press briefings, which double as a venting sessions, both for the president and the media, who get to take turns berating each other.
"Got to keep the airlines going", he added.
Yes, "got to". We've "got to" bailout the airlines, despite the fact that the largest of them plowed around 95% of their free cash flow into buybacks over the last nine years.
As Bloomberg dryly noted last
So, turns out that many of America’s “finest corporations” are basically that neighbor of yours down at the end of the cul-de-sac. He’s got the bigger model house, several cars, an RV, upgraded landscaping, and takes 6 luxury vacations a year.
Then, 2 weeks after losing his job, goes straight to BK without a penny to his name.
“World Class Corporations” … gimme a break … maybe save a few shekels in the piggy bank every now and then. Rainy days do happen.
Spot on!
The airlines should pay back every cent of government bailout money, not just 30%. Then they should be required to build up a retained reserves to fund their own bailout the next time they need one (seems to be a need about once every 20 years). If this means higher airfares, then so be it.
This is political not economics. American or another should fold. Cattle car for cruise ships and destination weddings.
If one or more went bankrupt and it became explainable to public….very bad. Should also egg on the enviro crowd. Floridian cabbies already think AOC is trying to personally put them out of bussiness.
This should be about economics but it is an election year.
No real point in Pontificating about Morality in an immoral society…The system that created this mess did it because it knew it could and would resolve itself the way we are seeing it done……….