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Why do certain highly operating leveraged industries such as airlines rely heavily on debt while others do not? And, what is the risk of having

Why do certain "highly operating leveraged" industries such as airlines rely heavily on debt while others do not? And, what is the risk of having leverage "on both sides".. meaning the balance sheet and the income statement? (To provide a hint, think about what certain industries may also have a high amount of on their income statement)

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