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Airline bailout


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I tried to make this post before, but can't find it. If I missed it, please accept my sincere apology.

I believe any bail out package to the airlines must include a provision giving back to consumers.

Over the last two decades, airlines have made BILLIONS of dollars with added fees and reduced services, cramming more seats into the plane, while CEOs and other higher-ups  get multi- million dollar bonuses; the airlines buy back stock to save paying dividends, etc.

Lat a bailout increase pay to the rank-and-file employees, and return  the benefits to the customers. Yes, a $450,000 max on executive bonuses from any bailout. 

When executives get paid these astronomical bonuses, they are motivated ot increase profits, etc., but it has for two decades come in the form of more fees and less services for the flyers. 

I remember 20+ years ago when everyone in budget class got a full meal ("Would you prefer chicken or pasta?)"

If you have any personal comments to/about me, please do it/them in P.M.

Thanks.

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What happens to world trade if the airline industry crashes?  This is a very tough call.  Are you ready to give up the freedom to fly?  Remember the times when airline tickets were so expensive it was basically a luxury and few people could afford international tourism?

Tourism is the third largest sector of the Mexican economy and it employs huge numbers of people.  What will happen to them and their communities if it never comes back?

Like it or not the world does depend on some businesses in the global age.  This makes more sense to me than bailing out one or two bloated and inefficient automakers.

 

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1 minute ago, AngusMactavish said:

Doesn't capitalism work on the risk/reward system? The only losers should be the stockholders. If there is a bankruptcy, the planes will be auctioned and new investors can reengage them.

Smart and good business.  The government should not be bailing out poorly run businesses and CEO’s.

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Yes, it is a very tough call.  Suggesting that all airlines will definitely crash without bailouts might be a stretch and certainly is not a given. They have enjoyed a number of years of 'smelling the flowers'. A few years of smelling something else might should have been planned better for.  This is a 'once in a lifetime situation'. Expecting to be made whole 3-weeks in may be a bit premature and unreasonable. BUT yes, again, it is a tough call. 

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1 hour ago, virgo lady said:

I have a comment to the OP and for the mods

STOP posting your every stream of consciousness random thought in the Ajijic section of this board.

Get a life.  Seriously.

 

I think part of the purpose of this board is to engage is discussions.

I am more than willing to listen to the input of any moderator.

I mostly now try to post informative information. 

Sometimes I do post my thoughts, just as most posters do.

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2 hours ago, Mainecoons said:

What happens to world trade if the airline industry crashes?  This is a very tough call.  Are you ready to give up the freedom to fly?  Remember the times when airline tickets were so expensive it was basically a luxury and few people could afford international tourism?

Tourism is the third largest sector of the Mexican economy and it employs huge numbers of people.  What will happen to them and their communities if it never comes back?

Like it or not the world does depend on some businesses in the global age.  This makes more sense to me than bailing out one or two bloated and inefficient automakers.

 

IMO, not really a tough call since in out modern societies, we need the airlines. The problem is, as I see it, that the airlines know how dependent people are on them, and have used this to their advantage.

I go back to my original post.

No more multi-million dollar bonuses; no more price gouging/nickle-and-dimming and excessive fees,  I support better pay for the rank-and-file workers, etc.

If prices, fees, penalties are allowed to continue to rise.  then your "freedom to fly" will be an illusion, an unreachable goal for the average person/family.  Do the math; Your middle class Mom, Dad and two kids want to fly to X. How much can they really afford for airline tickets, etc?

If anyone has a personal response to/about me, please send by I.M.

Thanks.

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2 hours ago, AngusMactavish said:

Doesn't capitalism work on the risk/reward system? The only losers should be the stockholders. If there is a bankruptcy, the planes will be auctioned and new investors can reengage them.

In the mean time service will be massively disrupted and many, many people will lose their jobs.  There's no free lunch.  You're not talking one or two collapses, you're basically talking all of them at once.  I suggest some review of how similar collapses during the Great Depression took many years to resolve themselves.

The last word depression led to a world war.  Now there are even more trigger happy countries around.

Definitely some conditions should be applied to receive aid.  This is true of both companies and individuals.

The western world hasn't had pure capitalism since that depression.  That's because the pure thing had the bad habit of crashing and wiping out the working people.  The rich folks almost always know how to take care of themselves.

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57 minutes ago, Xena said:

“Eric” proves daily that while irony is not dead self-awareness obviously is.

Seems I am out of "thingies" today AND I HADN'T USED ONE YET!  So something or someone is rotten in Denmark.  Anyway Zena.... good insight!

 

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I have now written to Chapala head mod and received one reply which said that nothing was wrong with the number of emoticons used. So, I said that perhaps I was describing them incorrectly and should be using the word reactions and listed them. I haven't heard anything back yet. Not really important in the big picture just frustrating. I would suggest that you and others contact the forum to make your complaint known. This has now been going on for over a year for me.

 

 

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What is the problem with bankruptcy? As in BANK. If everybody goes belly up that is a big problema for the bond holders and all the companies in the U S are loaded with debt. The Government wants to bail out the companies rather than the banks which would be catastrophic. They don't want a replay of 2008 because the people would wail about another Wallstreet bailout.

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15 minutes ago, johanson said:

How many emojis do you think you can use per day? :mellow: :) :(:):):(:( :mellow: :) :(:):):(:( :mellow: :) :(:):):(:( :mellow: :) :(:):):(:( :mellow: :) :(:):):(:( 

I have never been limited :mellow: :) :(:):):(:( :mellow: :) :(:):):(:( :mellow: :) :(:):):(:( :mellow: :) :(:):):(:( :mellow: :) :(:):):(:( :mellow: :) :(:):)

 

The reference here is not to the paste in emoticoms it is to the response emoticoms at the bottom right of the post.

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Intuitively,  air travel has gotten out of hand.  Its just too damn fragile.  Airports keep expanding, # of flights keep growing.  As Eric points out, the business model is broken when you have to depend on baggage and change fees to make a profit.  We need to bring back the trains for trips 400 miles or less and use the airlines for the longer hauls.    

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The first priority should be to get the whole CV pandemic under control.   Give financial aid to workers and small businesses and hospitals who are desperately in need of equipment and supplies in the richest country in the world.  How great is that???  Are we great again?   As long as CV is around, people will not want to travel anyway, that is how most of it got  spread around in the first place.   I've made 14 trips in the last 3 years and I ain't going nowhere until there is no more CV anywhere. 

No bailouts for airlines, cruise lines, or hotels.  Guess who might have a very vested interest in hotel bailouts...

Here is how Korea successfully dealt with their CV crisis:

https://www.todayonline.com/world/covid-19-how-south-korea-flattened-curve

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