[sjperez]

Are you concerned that the airlines might end up declaring bankruptcy? Or do you think the government will bail them out? As of right now, it's my understanding that they're operating at unsustainable losses, absent some kind of intervention.

[austincheney]

The cruise industry has it even worse. I am betting that at some point in the future business will resume and people will travel. There will still be airlines and its less disruptive to keep the current players in operation than to float new ones over the corpses of these giants. It takes an astonishing level of liquid capital to spin up an airline that is more than merely a regional player.

[jklein11]

I think another concern you might have if you are a potential investor is some private equity fund offering a large sum of cash for newly issued equity. This would give the airlines the cash to remain solvent but significantly dilute the current shareholders.

[atmosx]

It's lottery, not math. So even if the parent answers this or that a diversified portfolio, might save some skin but no one really knows what's going to happen - and if someone does, it's most likely illegal.