Announced on call . Burning $20 million per day , which equates to about $1 per share every 13 days. They are raising debt , which is good, but that debt needs to be repaid so the capital structure adjusts.
Calin mirrored Buffet's concerns when he confirmed that the airline will be considerably smaller for next few years . Hence, you have fewer revenue and profit generating assets, but your debt doesn't disappear . Moreover, when will the lucrative business travel biz recover ? That is the most profitable . And calin stated that this will recover later and videoconferencing may impact this.
The equity capital is the one piece of the capital structure that is adjusted dynamically to the environment , as debt levels don't change (debt levels are actually going up as they issues more).
Be careful out there. This is a whole new world.