I found this 9 min video with Gordon Nixon, Royal Bank of Canada Cheif on FT.com very interesting
FT.com / View from the Top
It's his view on the $700bn injection, what the problems are that the financial system faces and it's knock on effects (which effect everyone including airlines).
In short his view is the banks can and do function with their liabilities exceeding their assets, the problem is one of lack of liquidity and confidence. Something needs to to be done to restore liquidity and confidence to get things moving again.