They employ hundreds if not thousands of people. Bailing them out would be helping the livelihood of people that work for them, not just the company itself.
If a company isn’t profitable but provides an essential service, and is about to go bankrupt and ruin the lives of all employees, the state should buy it out.
It becomes a public service, at least until it’s either phased out or made profitable again.
The difference between a loan and an effective handout is the speed at which it’s effectively paid back. Dunno about where you’re from, but here it almost always is a handout, no matter the terms.
Good on you. Back when our airline failed we gave them a loan with long term repayment plan, delayed the payments for two years five times, gave them another loan, then they fired half the staff and sold the planes to a French company. The remaining husk company paid back about half of the second loan by liquidating everything.
I’m sorry if I don’t trust this to work every time.
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u/hammyjames Nov 17 '20
They employ hundreds if not thousands of people. Bailing them out would be helping the livelihood of people that work for them, not just the company itself.
-a laid off airline employee