'They’re not the only industry that’s having trouble in this. Everybody's got their hand out,' said one transportation consultant.
In the face of sharply reduced demand, domestic carriers already slashed flights by around 40 percent, by some estimates, although reports of fliers traveling on nearly-empty planes abound.
In hindsight, allowing this kind of debt to accrue in the first place probably wasn’t a great idea, Hamlin said. “Three of the big four have considerable debt. During the era of share buybacks, why wasn't some of that paid down?” he said. In its March 21 letter, Airlines for America said that if it was granted the $29 billion it sought in loans, it would limit executive compensation and stop both stock buybacks and dividend issuance for the life of the loans.
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