US airlines got the sweetest Covid bailout – a wise move?

© Rafael Ben Ari

Crain’s Chicago Business has published an interesting analysis of the US airline bailout programme. Author Timothy Massad, senior fellow at the John F Kennedy School of Government at Harvard University, questions the sums handed over by the US taxpayer to investor-backed businesses. He notes that just one day after receiving $5bn in assistance from the US Treasury, United sold $1bn of common stock. Similarly, Delta said it would raise $3bn selling secured debt.

“The aid to air carriers is particularly good ...