U.S. companies participating in the production of jetliners are facing a liquidity crisis due to the coronavirus pandemic. Aircraft deliveries have ceased, the supply chain is breaking down, and many companies face the near-term prospect of bankruptcy. Without federal assistance, they will need to lay off many thousands of employees. This is not just about Boeing and its 10,000+ domestic suppliers. Airbus too faces a severe cash crunch. If Washington does not act quickly with grants, loans, tax breaks and other forms of help, the era of America’s dominance in global commercial aviation may rapidly draw to a close. I have written a commentary for Forbes here.
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