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Airline companies operate in a very risky business that is highly subject to the economy and many have gone bankrupt in the past. For example,

Airline companies operate in a very risky business that is highly subject to the economy and many have gone bankrupt in the past. For example, the COVID-19 virus has reduced air travel and will result in large losses for airlines. Nevertheless, airlines typically have large amounts of debt in their capital structure. Explain this apparent contradiction.

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