The last six months have been tumultuous for the entire global air transport industry. Airlines and airports have taken unprecedented steps to cut costs and boost their liquidity through new funding arrangements. Nation states have responded in a variety of different ways. Germany, France and The Netherlands have reached deep into their pockets (€9.0bn, €7.0bn, €3.4bn respectively) to support their national carriers and in so doing, have raised interesting questions about the potential for market distortion...more
