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Bankruptcy to another Airlines, more importantly another Flag Carrier. Before this we already heard on Alitalia and Thai Airways, we also known on the condition on South Africa Airlines and several other Flag Carriers. In fact it should be much more. At least in South East Asia alone, if not due to Political consideration flag carriers like Malaysian Airlines and Garuda Indonesia will already in technical bankrupt financially.
COVID already taking toll on the Industry is not a secret. However do Nation's still need maintaining Flag Carriers? Most of it due to national pride, which justified Political costs to keep them flying.
However, whether due to Pandemic or Financial Crisis, any company in any Industry should be let it fall, especially if the problem already arise before the Pandemic. Take it as example on Malaysian Airlines and Garuda Indonesia, both continue being inject directly and indirectly due to Political consideration. No administration in both countries want to take Political costs to let the 'pride' flag carrier go down.
Many of those Flag Carrier not working efficiently, perhaps on the mentality that the Government will bail them up if they mess up. Perhaps only few Flag Carriers, the like of Singapore Airlines and Qantas that in other spectrum of efficiency and profitability. Even then both of them got problem due this Pandemic, however their pre-pandemic condition still save them.
Just my ranting on why Nation's should not maintain and help Flag Carriers, especially if they already have problem before the Pandemic.