Airlines are struggling to get back into the skies following two years of travel restrictions, leaving passengers facing a frustrating barrage of delays and cancellations.
But when the disruption clears, the invisible impact of the pandemic will hang over the industry for years to come, as the world’s biggest carriers work to deleverage their balance sheets from billions of dollars in debt accumulated during the crisis.
Ten of the leading airlines in the US and Europe have built up $193bn in gross debt between them over two years, up from $109bn in 2019.
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