Also the "inevitable bad times" no-one could ever have foreseen...

Also the "inevitable bad times" no-one could ever have foreseen country and state lockdowns and the impact covid has had on the modern world which has never seen anything like this before .... you might as well ask airline CEOs to be prepared to lose business due to "teleporters" becoming the new standard way to travel.

Unprecedented? Try two world wars, 1918 Spanish Influenza, Great Depression, the 1973 Oil Crisis, de-regulation 9//11, SARS etc etc. in fact you would expect a crisis about once every 10 years on average. In fact the situation is so bad the airline industry has been in perpetual loss making mode since the Wright Brothers first flight.