Wednesday, May 27, 2020

ZH — Boeing Slashes 6,770 US Workers, Sees No Recovery In Air Travel For "Years"


Another ominous sign. Will the aircraft and airlines industries need a bailout?

Zero Hedge
Boeing Slashes 6,770 US Workers, Sees No Recovery In Air Travel For "Years"
Tyler Durden

13 comments:

Andrew Anderson said...

In exchange for its fiat, the US should take a equity position at a bargain price and then distribute the stock equally to all citizens since a monetary sovereign like the US has no need for its own fiat - unlike Germany, a non-monetary sovereign does.

There's some non-socialistic wealth re-distribution, Tom.

What's not to like?

Peter Pan said...

When have the airlines not needed a bailout?

Matt Franko said...

Probably the largest long term liability the Airlines have is leases on the terminals and gates at the GOVERNMENT OWNED airports...

They could probably just negotiate new extensions to the aircraft leases for the grounded aircraft the aircraft arent depreciating with no hours being put on them... no brainer...

So you left wing commie dumb as rocks morons are saying "the airlines are needing a bailout!" but the liability they need the funds for would be to pay the f-ing governments their lease payments at the airports...

Matt Franko said...

If the airports authorities were instead a PPP the airlines probably would just negotiate a modification with the PPP until a vaccine is developed...

so then you commie morons harp on an "airline bailout!" which would be easily avoided if the airports were privately owned... the two parties would just re-negotiate terms..

Peter Pan said...

As Neil Wilson might say: Stop treating businesses as pets.

The airline industry is not an essential service.
Leave it to the market, and let the chips fall where they may.

Mike Norman said...

Airlines should be regulated and operated as utilities. Period.

Andrew Anderson said...

As Neil Wilson might say: Stop treating businesses as pets. Peter Pan

Including the banks?

So it's socialism for the banks and "free market competition" for everyone else?

Then how about 100% private banks with 100% voluntary depositors too, Neil?

Andrew Anderson said...

The airline industry is not an essential service. Peter Pan

Neither should the banks be. But because we have a SINGLE payment system (besides physical fiat, coins and paper bills) that MUST work through private depository institutions (aka "the banks") the banks ARE essential.

We should change that by allowing ALL citizens (at least) to use fiat in account form via inherently risk-free debit accounts of their own at the Central Bank or Treasury and by abolishing all other privileges for private depository institutions too.

Then deposits at private banks would be just another form of gambling/risky investing, of no great concern to the real economy.

Peter Pan said...

I'm in favor of public banks.

Andrew Anderson said...

Public banks don't solve the problem of the use of the public's credit but for the private gain of the most so-called "credit worthy", be they rich or politically favored; they violate equal protection under the law.

Peter Pan said...

Solving that problem requires another policy change.

Andrew Anderson said...

It requires 100% private banks with 100% voluntary depositors - something we've NEVER had in the history of banking.

Peter Pan said...

No such thing as private banks without heavy regulation.