Question 2 Section 2 LO 2. 10 Marks Not yet answered Read the text below and answer the questions that follow in the space provided; don't forget to number your answers. Marked out of 10.00 Flag question With hopes that the Covid virus could be approaching an end, airline stocks are rising fast. Shares in Singapore Airlines Ltd. jumped the most in 21 years this month while those in Cathay Pacific Airways Ltd. were up the most since 2008 after Singapore and Hong Kong announced the opening of a travel bubble starting Nov. 22. News of successful trials of a Pfizer Inc. and BioNTech SE coronavirus vaccine pushed the Bloomberg World Airlines Index up 9.7% Monday in anticipation of an end to the pandemic. However, right now, much of the airline industry is still in financial trouble. With traffic down from a year earlier in September - and international flights running at just 12% of their levels a year ago --- the usual path for companies to bring in cash by selling tickets is still blocked. That could remain the case well into next year, given the likely bottlenecks to producing and distributing vaccines in quantities sufficient to reopen international travel. Still, there's more than one way for airlines to make money. If you can't sell plane tickets, you can still get money in other ways. The first thing companies try to sell in a crisis are bonds. Airlines have issued $88 billion in bonds so far in 2020, more than half of the $153 billion that the industry sold over the previous four decades put together, according to data compiled by Bloomberg. Throw in the value of loans taken out and airlines' total debt is up by $124 billion since the end of February, the data show. In total, all the new debt and equity sold by the world's carriers this year amounts to nearly two-thirds of the $241 billion that the International Air Transport Association expects the industry to collect in passenger revenue through the whole year. 1. Why are airline stocks rising fast? 2. Why will international travel likely not reopen until next year? 3. What are airlines selling to raise money? 4. How much did airlines issue in bonds over the previous four decades put together? 5. Which two places are opening a travel bubble starting Nov. 22