I guess this is in response to my post even though it wasn't qouted. First it wasn't an analyst it was the former CEO of American Airlines I'm sure he knows a lot more than people who post on the internet about stocks. And At what scale will airlines come back? A lot of airline travel is for business and companies rather have people work from home or travel less frequently after Covid, and nobody knows if people are going to be flying as much as before.
Do you even know that Airline companies have gone bankrupt many times over the last 10 years or so? People just want to buy into anything because it's down from it's highs without doing any research on what they are buying. The average person doesn't take enough vacations or fly frequently enough to offset the loses that they'll take on.
I think what is mitigating this threat for a lot of people is that there are essentially only 4 airlines left. If we are talking about them going belly up then you are talking about the US nationalizing the industry, which this country has no interest in doing. So if the US has no interest in running airlines, and the industry is essential for the economy, then they have to survive at some capacity and that capacity has to be worth something. You just have to figure out what that worth is.