Many businesses have been adversely affected by the global pandemic. We have seen a surge in the travel industry lately because we just want to travel, right? However due to many factors, many airlines in particular are not ready for us.

In your discussion (in two or three paragraphs) think about how an individual airlines has been affected over the past 3 years, specifically using a general stock valuation model: 1) Dividends, 2) Growth of the dividends and earnings, and 3) The Required Return on the stock. What drives each of these three variables for an airlines company? For each variable, has that number most likely gone up, gone down? Why? And how does that affect overall valuation (in terms of the stock valuation model). Please refer especially to Section 7.3 in the ebook and the general stock equation, Eq. 7.4 in Chapter 7. You do not have to research the airlines industry or an individual airlines but feel free to read a little about the pandemic's impact on the airlines and travel industries.