Is This the End of Stock Buybacks?
Major U.S. airlines -- American (NASDAQ: AAL), Delta (NYSE: DAL), United (NASDAQ: UAL), and Southwest (NYSE: LUV) -- are drastically cutting flights. In the age of coronavirus, this isn't surprising.
They're also asking for a bailout. It started with a request for $50 billion from the federal government. That number has since been revised down to $29 billion.
In the narrative put out by the airlines, this makes sense: How can an industry with such high capital requirements (gas, upkeep, new planes, etc.), and low profit margins possibly withstand a prolonged drought?
Source Fool.com
