Originally Posted by
dragon man
Good link DM. I read that article early this morning. There are some serious aviation issues in play. United could be losing up to $100m per day. Phenomenal amounts of money.
I stick to my prediction, albeit based upon a lot of unknowns yet to come, there will be only 20 or so mainline carriers worldwide that will remain in play once this crisis is over. As aviators we often get caught up in what’s happening in our own patch. It’s not a criticism, it’s just what we do. But there is a bigger picture and we are only a small spec. Just as the world changed after 9/11 the world will have changed again by the time COVID-19 it is under control. Economies, house prices, taxation levels, future infrastructure, services, superannuation - all changed, and not for the better. Sadly, VA is gone. Done and dusted. It’s the bitter and unpalatable truth. It joins Ansett, Pan Am and others. Any Phoenix rising out of VA’s ashes will be a different, new airline.
The worlds obsession with printing money, endless debt and creative accounting could only go on for so long. The day Nixon ended the gold standard and murdered the Bretton Woods system was the day fiat money entered the worlds financial system, which after 50 years has culminated in the mess we are in today. COVID-19 is the match that finally ignited the financial tinderbox. Some of you younger pups will be thinking; ‘what is this old fart going on about’. Sadly, the inevitable collapse of the Ponzi scheme has commenced. If you think the **** has hit the fan now, I suggest you buckle in tightly as this is only the beginning. Unless you have studied economics and understand financial systems in depth you likely never saw this coming. Not in a million years.
Best of luck to everybody as we are going to need it.