The CEO's "expenses" included $60,000 for Met Gala tickets in 2019, furniture for his houses in NYC and Bermuda, as well as costs for maintaining his personal website, personal credit card fees and even a new personal car.
Even before the coronavirus we were not big fans of the airlines business. Planes are expensive. Airlines have to pay for them whether they are fully occupied during normal economic times or when they are half-loaded during recessions. Their other big cost is fuel – airlines have little control over it. If they hedge the oil price and it goes up, they are heroes. If they hedge oil and it declines, their unhedged competition will have an economic advantage.
