Q: Hi, I owned the 5.25% Debentures (and stock) ahead of the COVID-crash, but bought more of both in the pit of the crash. I get that they are servicing a lot of debt, but I also felt that they were perhaps being punished for being an airline, without consideration of their essential service in most of their flying markets, and their largest input cost is fuel, which mitigates some lost revenue.
The Debentures have not recovered nearly as well as the stock. I'm OK holding on to the debentures, as they are less than 2% of my RSP, but would appreciate your perspective.