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Let's say that AA didn't do any buybacks - instead they saved up all of the money that they would have spent on buy backs in the last few years. Would that have
by erjiang 7y ago
Let's say that AA didn't do any buybacks - instead they saved up all of the money that they would have spent on buy backs in the last few years. Would that have been enough to survive this pandemic?
- mrgordon 7y agoYes, likely. In 2015 and 2016 alone they paid $8.346 billion in buybacks and they seem to pay roughly a $0.40 dividend every year. Either way it would have allowed them to borrow less money at much better terms. Instead they are totally insolvent immediately and people have a more negative view of bailing them out because they appear irresponsible.