US: Consolidation and record profits give US carriers some coronavirus defence

Industry consolidation and years of profits have left US airlines more prepared than ever to weather the falloff in demand created by the coronavirus outbreak, say industry analysts. “All this is hitting badly, but we have never had an airline industry that has been this financially sound,” says Mike Boyd, president of aviation consultancy Boyd Group International. “Cash is available to every airline. They can weather this.” Others agree. “North American carriers should be in a stronger position than airlines in other regions to withstand implications from coronavirus,” says a March 12 report from Fitch Ratings “North American airlines have gone through significant consolidation, restructured through multiple bankruptcies and experienced a change in operational focus toward profitability.” <br/>