Airlines have somehow conned the President, the Speaker of the House and myriad members of the House of Representatives and the Senate to sign onto the idea of a $25 billion ‘clean extension’ of CARES Act payroll support. That’s a second $25 billion injection of cash in exchange for not furloughing workers or eliminating service to most cities through March 31, 2021.
Except that the math here is truly insane. No one seems to be doing the math. So let’s talk about what a $2.5 billion package might look like instead.