Just because some can't foresee it doesn't mean its absurd. Some rather inconvenient facts is AIR were well below $1 in the GFC. The last bailout in 2001 required $885m ($1,344m in today's money), and resulted from a short sharp shock to demand from 9/11. The shock to demand this time is shaping up to be far more enduring and a 1:1 cash issue at $1 would raise just $1,123m in today's money, 16% less in real inflation adjusted terms than last time in 2001. (Pretty obvious their cost structure has gone up by just a "little bit" in the last 19 years !)
AIR operations are primarily very high fixed cost and no amount of lever pulling, (AKA rearranging the deck chairs on the Titanic), will help if they hit the iceberg of demand falling of the face of a cliff and staying there for many, many months on end.
But no worries because Cindy said she's going to help business's affected by this virus so we can trust her and everything is going to be fine :rolleyes: Where's my Tui ?
CDC now telling at risk people to avoid air travel !
https://www.nzherald.co.nz/business/...ectid=12315665