FORT WORTH – Stating that he “was just making it as easy as possible for the taxpayers,” American Airlines (AAL) CEO Doug Parker defended spending every cent his company earned on inflating AAL stock. American Airlines, which had issued debt to pay for capital expenditures instead of using critical stock buyback money, was threatened with bankruptcy seconds after Coronavirus-related travel restrictions were announced. Other airlines took at least several hours to reach the same point.

In the United States, where two-thirds of the world’s airline profits are made by offering aggressively streamlined service, cash flow is tight. Insiders indicate that the release schedule for innovations like standing-room-only flights has been accelerated by the Coronavirus crisis. But will AAL survive that long? When asked if he might consider reissuing some of those billions in stock that American Airlines purchased in order to cover current debts, CEO Parker showed visible confusion: “But the government will do that for free?”

(This article has been updated)