“U.S. airlines want a $50 billion bailout. They spent $45 billion buying back their stock.”
April 8, 2020
“We don’t know yet which companies are going to get how much in federal bailout money and what the bailout terms will be. But it’s a sure bet that a ton of money will be earmarked for our nation’s four biggest airlines – American, Delta, Southwest and United.
And it’s also a sure bet that the Big Four Flyers would need a lot less bailout money if they hadn’t sent almost $45 billion to Wall Street over the past five years to keep shareholders happy. That’s not much less than the $50 billion airline bailout package that’s being proposed…”
Truth be told these days some companies are considered “to big to fail.” That being the case these make for good long term investments because they’re basically backed by taxpayer money. At least that’s the way I see the current situation.