The Varying International Responses to Covid-19, and the U.S. Stimulus Package
After Hours
Is One Month of Revenue as Cash?
We have never seen anything like this hit the airline industry. I don't think you can ask an airline executive six months ago to say they need ten billion dollars o cash on hand, because you might end up with no demand for four months. That is a calculus that we don't normally expect managers to make. The banks really were complicit in this. They should have foreseen what the lending was. To hold them responsible for doing something wrong in that world strikes me as weird. Do you think that's a natural frame to think about it?
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