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Are airlines idiots? Aren't they more like victims of extremely unfortunate circumstances? Do we want to lose commercial air travel for a few years? If airli
by domador 6y ago
Are airlines idiots? Aren't they more like victims of extremely unfortunate circumstances? Do we want to lose commercial air travel for a few years? If airlines are worth helping out and saving, then maybe so are certain other businesses.
While we're at it, let's work on toning down the greed part, which as it is was already destroying society even before this crisis.
- AbrahamParangi 6y agoWhat makes you think that allowing the holders of airline bonds and equity to take a bath will result in commercial air travel disappearing? Edit: I should be clear. Yes they're idiots. There is no reward without risk. Stock buybacks make businesses fragile. They're functionally equivalent to selling insurance. They provide predictable returns with high probability and absolute ruin with low probability. They've been playing Russian Roulette for years and it turned out a bullet was in the chamber this time.