begin quote from:
https://www.cnn.com/2021/02/07/business/airlines-cash/index.html
Despite huge losses, US airlines are rolling in cash
By Chris Isidore, CNN Business
Updated 1:18 PM ET, Sun February 7, 2021
00:17/02:31
New York (CNN Business)The US airline industry just closed the books on the worst year in its history, losing a combined $32 billion excluding special items. Yet it still ended 2020 awash in an ocean of cash.
The nation's four largest airlines -- American (AAL), Delta (DAL), United (UAL) and Southwest (LUV) -- among them had $31.5 billion in cash on their balance sheets at the end of 2020. That's up from $13 billion a year earlier, before the pandemic hit. "Liquidity" has become a favorite buzzword of airline executives discussing their financial condition. Including the cash and yet untapped credit lines, the airlines have access to nearly $65 billion.
"The liquidity is at record levels," said Philip Baggaley, chief credit analyst for the airline industry at Standard & Poor's. "That's good, and it's one of the few strong points they have at this point."
The airlines received substantial financial help from the federal government, but most of that money was required to be spent keeping staff on payrolls temporarily.
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