Trump went big with a stimulus plan today, calling for over a trillion in spending, including $1,000 for everybody.
Economist Jim Miller says:
It would not be bad for the economy if airline companies go bankrupt. This would just mean that airline creditors and stock holders lose a lot of money. It wouldn't cause the planes to be destroyed, they would just go to another owner who would operate them again.
My vague recollection is that most famous old airlines have gone bankrupt at least once over the course of my life, but life goes on enough that I can barely remember it other than the lesson I learned is not to worry much about it.
Lots of other glamorous old airlines went out of business, such as Pan-Am and TWA. I can recall thinking as a kid that Harvard and Yale were the Pan-Am and TWA of colleges. But they’re still here and Pan-Am and TWA are not.
Other airlines have vanished almost completely from memory. I can recall going to O’Hare in the 1980s for a flight I’d gotten a good deal on the month before. But I couldn’t find the fairly new airline’s ticket counter. Finally somebody told me they’d gone out of business the week before. I can’t remember the name of the airline. This is, I realize, an extremely boring anecdote, but that my point: Somehow, the Earth kept spinning on its axis.