[Water Consumption]

For Asia's airlines, financial strife is only just beginning Next three months critical as risk tolerance deadlines approach David Yu is a finance professor at New York University in Shanghai who specializes in cross-border financing and aviation finance and leasing. He is author of "Aircraft Valuation: Airplane Investments as an Asset Class." The business model for most airline operators is similar to the seasonal life cycle of bears: store the profits from the peak travel periods from spring through to fall to tide them over the winter when less people travel. The problem now is that after COVID-19 ravaged the summer travel season in the northern hemisphere, many airlines are facing a cash crisis before winter has even started. Without those golden periods of abundant cash flow, it has been a long and painful year, hastening the need for immediate restructurings or in some cases the shutdowns of airlines such as AirAsia's Japan franchise and its AirAsia X subsidiary. Fortunately for airline operators, there have been varying degrees of government aid and support that have helped extend their timelines. But even generous cash injections, which have been in the billions of dollars at the top of the range, might not be enough to keep large airlines with large fixed costs flying as the pandemic continues to drag on. Singapore Airlines, having received a $13 billion taxpayer-funded cash injection in March, has reportedly already burned through more than half of it and is ceasing its SilkAir brand. Cathay Pacific, which in June received $5 billion in government aid and recently announced significant layoffs and the closure of Cathay Dragon to help stop the bleeding, has continued to hemorrhage up to $260 million a day. Likewise, Japan's ANA Holdings, which recently announced its largest forecast yearly loss at $4.8 billion, will need to raise a further $3.8 billion in debt to sustain operations. It would be wishful thinking to believe that governments will supply endless amounts of financial aid to the airline industry. Even the funds paid out so far have not been enough to overcome the aviation industry's high fixed costs.

https://asia.nikkei.com/Opinion/For-Asia-s-airlines-financial-strife-is-only-just-beginning

[Insurance] [Insurance]

HANOVER TWP., Pa. - Two people are facing content drug charges after a traffic stop early Thanksgiving morning. Colonial Regional police tried to stop a vehicle without its lights on around 1:30 a.m. Thursday on Schoenersville and Airport roads in Hanover Township, Northampton County. The SUV pulled into the parking lot of the Days Hotel on Airport Road, police said in a news release. The driver, 20-year-old Aubrey Maffea, gave officers an expired driver's license and insurance card, police said, and officers could smell the odor of marijuana. As police were running the Bethlehem woman's information, a backseat passenger jumped out of the vehicle and ran into the hotel. Officers took him into custody after a brief struggle in the hotel, police said. The man, 34-year-old Jonathan Planas, who police say is homeless, was arrested on an outstanding warrant, and will also face charges of drug paraphernalia and resisting arrest. Maffea is facing traffic violations and drug charges.

https://www.wfmz.com/news/area/lehighvalley/2-charged-after-traffic-stop-brief-struggle-in-hotel-lobby/article_d746efe2-30c9-11eb-90fd-5bcbd8dac153.html