That’s correct, if a little linear.
and who owns them? Private equity, sovereign wealth funds and shareholders who have expectations. My point remains, it’s no longer a hands on owner, making decisions over a scotch at 10am.
Shareholders mean graphs,data, presentations, forecasts and a lot of ancillary office work that is connected to reporting on investments and returns, rather than hitting FL360 or swinging spanners.
is it a waste of time, yes, very probably. Can you do away with it and fund an airline in the modern age? Probably not, And I’ll bet the ones that miss the cull are the excel ninjas that do the financial reporting.