- The Trump administration has proposed $50 billion of emergency aid for airlines ravaged by widespread cancellations amid the coronavirus pandemic.
- But critics are deriding it as a bailout to an industry that made bad financial decisions.
- Resistance to the plan emerged among Democrats and even some Republicans. They’re concerned that extra money will go straight to share buybacks, as they have in the past.
- Their pushback is reminiscent of past criticisms relating to how companies have spent excess capital.
Source: Airlines are begging for a bailout, but they’ve used 96% of their cash on buybacks over the past 10 years. It highlights an ongoing controversy over how companies have been spending their money. | Markets Insider