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Except in airlines there are almost no profits :)
by not_exactly__ 7y ago
Except in airlines there are almost no profits :)
- chillwaves 7y agohttp://news.aa.com/news/news-details/2019/American-Airlines-Group-Reports-Third-Quarter-2019-Profit-CORP-FI/default.aspx http://news.aa.com/news/news-details/2019/American-Airlines-...
- grecy 7y agoAirlines profited around $28 billion in 2019 [1]. If they were publicly owned, the prices of flights would just go down until there was no profit. Also, the CEOs wouldn't be paid tens of millions of dollars per year [2], so again, prices would go down. [1] https://www.cnbc.com/2019/06/02/airline-industry-cuts-profit-outlook-cargo-business-hurt-by-trade-war.html https://www.cnbc.com/2019/06/02/airline-industry-cuts-profit... [2] https://skift.com/2019/05/29/united-wont-pay-munoz-a-full-bonus-airline-ceo-pay-2018/ https://skift.com/2019/05/29/united-wont-pay-munoz-a-full-bo...
- refurb 7y agoPublicly owned doesn’t mean non-profit, it means government ownership. There are plenty of public companies who post profits. And even if we were to make airline public, wed just be reversing the trend over the last few decades. There is a reason why so many nationalized airline went private, the government kind sucks at running businesses (not always, but often).
- not_exactly__ 7y agoYou’re using one data point, 2019, a pretty damn good year for the U.S. economy. I encourage you to look at the last 20 some years of U.S. airlines profits (emphasis on U.S. since those aren’t subsidized as much as national carriers like Emirates, Singapore, AirFrance...etc). Average profit margin is around 0.5% despite creating a ton of value for the US economy.