Table 9.

Literature on airline finances impact of COVID-19.

Study	Major finding
Abate et al. (2020)	Most governments give a high priority to support national operators in each country in order to maintain air transport connectivity.
Agrawal (2020)	The impact of COVID-19 on Indian airlines was analyzed, covering suspended operations, drying cash reserves, and deteriorating solvency.
Akbar and Kisilowski (2020)	Airlines' nonmarket responses to COVID-19 governmental policy measures were analyzed, including non-/bargaining, compliance/partnership or selective avoidance/conflictual.
Chen et al. (2020c)	The impact of government responses to COVID-19 on stock returns of travel and leisure companies in the U.S. was examined. The airline sector suffers most of the negative impact of restrictions.
Goessling et al. (2020)	Bailing out airlines could be bound to conditions, such as emission reductions, carbon pricing or levies on frequent flying; as suggested by climate campaigners.
de Rugy and Leff (2020)	Bailing out airlines is not an inefficient way to protect airline industry.
Truxal (2020)	The extent to which and on what conditions state aid measures are applied to air transport in EU were investigated, the boundaries of state aid regime are set for a liberal market economy.
Vinod (2020)	An approach which monetizes seat inventory so that corporations can prepay for travel and receive a discount was recommended, in order to generate cash-flow for airlines to continue daily operations.