Cash is King but Debt Rules OK?

摘要

THE COVID‐19 pandemic has had a calamitous impact on airline operationsand finances. With the closure of borders, mandated cessationof services, a collapse of demand, and an inability quicklyenough to halt fixed cost cash burn, all airlines round the world werein desparate need of liquidity to stay alive. Cash was king. Some werelucky enough to get support from their governments. All have had toraise huge amounts of debt. Will the industry ever be able to return tothe healthy pre‐pandemic financial status?