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American Airlines facing a $3 billion dollar credit crunch due in next few days
Posted on 3/14/20 at 12:18 am
Posted on 3/14/20 at 12:18 am
The plunge in travel associated with the coronavirus is hitting airlines hard. American Airlines is facing a credit crunch and will need to raise $3 billion in the next few days to cover its bills, according to one estimate. WestJet, a discount Canadian carrier, could lay off as much as half of its staff, The Canadian Press reports.
WIBW
WIBW
5
Posted on 3/14/20 at 9:56 am to MrLSU
Fck AA! After shutting down my account with over a million pts, they can go under for all I care.
Posted on 3/14/20 at 1:16 pm to LSUregit
quote:
Fck AA! After shutting down my account with over a million pts, they can go under for all I care.
I agree that AA sucks...but what's the backstory on the points?
Posted on 3/14/20 at 1:50 pm to LSUregit
quote:
Fck AA! After shutting down my account with over a million pts, they can go under for all I care.
Right there with you
Hope they go bankrupt
Posted on 3/14/20 at 1:53 pm to Golfer
Posted on 3/14/20 at 2:11 pm to macatak911
A lot of other airlines would go under before AA would.
Posted on 3/14/20 at 2:19 pm to Reservoir dawg
quote:Agreed but the last two standing domestic carriers would (imho) be Delta & Southwest.
A lot of other airlines would go under before AA would.
Posted on 3/14/20 at 2:43 pm to Golfer
quote:
I agree that AA sucks...but what's the backstory on the points
He was gaming credit card promotions and got caught.
Posted on 3/14/20 at 3:06 pm to soccerfüt
quote:
Agreed but the last two standing domestic carriers would (imho) be Delta & Southwest.
And if it ever came to that point the industry would be kaput anyway.
Posted on 3/15/20 at 6:40 am to MrLSU
quote:
American Airlines
Worst airline in the US, so not unexpected.
Posted on 3/15/20 at 9:26 am to MrLSU
If we bail out AA it should come with strings
No company with American in the name should be allowed to continue as such a national embarrassment.
No company with American in the name should be allowed to continue as such a national embarrassment.
Posted on 3/17/20 at 4:32 pm to soccerfüt
quote:
the last two standing domestic carriers would (imho) be Delta & Southwest.
Kind of want.
Posted on 3/17/20 at 6:01 pm to MrLSU
I get the capacity cuts and revenue slowdown... but if they need 3 billion this soon... that tells me they were in precarious finances already.
Posted on 3/17/20 at 9:04 pm to MrLSU
The larger merged airlines have made huge profits in recent years, and used most of it to buy back company stock. No reserves to cover another downturn.
But the feds are going to bail them out shortly with billions, including monies to freight airlines and airports as well. So AA isn't going anyway.
But the feds are going to bail them out shortly with billions, including monies to freight airlines and airports as well. So AA isn't going anyway.
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