The loss Hertz was producing wasn't outrageous compared to their sales and operating income (2019: $9.8b sales, $759m operating income, $805m in debt interest e

The loss Hertz was producing wasn't outrageous compared to their sales and operating income (2019: $9.8b sales, $759m operating income, $805m in debt interest expenses). If you're Hertz you can make a very good case that that is a situation that can be managed, as they had been producing some growth over the prior years as well. Operating income had gone from $167m to $442m to $759m. It looked like they had a solid shot at climbing above the killer debt interest costs in 2020. They were clearly in trouble, however the pandemic is what buried them. Lenders didn't see that coming.