I would say CAT are the most vulnerable company in this space,...

I would say CAT are the most vulnerable company in this space, simply because they went for a land grab and have huge overheads.

The original reason i bought the stock was because i thought this would work and all the competition would be burned.
That has obviously not worked and now they have massive costs just at the wrong time,
I have carried out a detailed analysis of the CAT revenue making the following assumptions.
80% of current service recurring revenue clients continue to pay
CAT get 20% of last years H2 revenue.
My estimation is that they will run out of cash by July/August
If Clients stop paying then it will be sooner.
I assume that all the contracts have force majeure clauses, which does not bare contemplating!!

A CR now is virtually impossible.

We had a market rally today (and yesterday) and CAT continued to fall, TBH that is ominous!!

How can Qantas stock go up by 26% while planes are on the tarmac and CAT stock continue to go down?

I am glad i got out a few weeks back and took my loses and ran.