Not to mention the airline industry in particular routinely has adverse events that affect it. Just to run down a list of random things airline execs should be

Not to mention the airline industry in particular routinely has adverse events that affect it. Just to run down a list of random things airline execs should be considering as "normal" risks they need to plan some buffer for, all of which have caused significantly impactful events on a regular basis for the industry, even to the point of causing some airlines to go bankrupt and/or be bought out by competitors over time: * Government regulation impacts * Union strikes * Aircraft groundings due to faulty (or less-long-lived than anticipated) parts * Ticket search companies undercutting their profits * Oil (and thus fuel, one of their main costs) price surges * Wars and conflicts that decrease travel demand or cause large unsafe-to-fly zones over the world. * Volcano eruptions that fill regions of the globe's sky with engine-killing volcanic dust. * Terrorism (the reduction in passenger demand in the wake, groundings while implementing new safeguards, related lawsuits in the aftermath, etc) * Now-obviously: Pandemics (but even smaller epidemics have shown effects several times in the past couple of decades!)