Why airlines should prioritize moral worth

There is an additional disease rapidly spreading with coronavirus. It mostly affects companies, but specifically, the airlines industry. That disease is "moral bankruptcy." A company's "moral worth" is the moral equivalent of a company's net worth. When a business caters to its stakeholders — the

customers

, employees, and community — it increases its moral worth because its actions benefit all stakeholders. In contrast, when a business only serves its shareholders — prioritizing profits and shareholder returns over everything — it depletes its moral worth, and by extension its net worth, because its actions inevitably harm key stakeholders. Today,

China Airlines

is most affected by moral bankruptcy.

In the past, the company has demonstrated its commitment to customer service by boasting about the maximum number of plane crashes in history. Today, it continues that streak by offering no (or partial)

refunds

to its customers. The company has added a "Novel Coronavirus Service Information Section" to its website, where it offers refunds to its customers. But look closer, and you will find nothing, for the fine print does not mention that the airlines will levy a

cancellation

fee of 25% of the ticket

cost

. \

Sources have confirmed how China Airlines is responding to a myriad of cancelation requests, by either ignoring its customers or telling them to not call back. Which aligns well with the company's subtle message that says, "Travelers are encouraged to use the online services to save time on phone calls and over-the-counter processing." Moral bankruptcy spreads fast, for of late,

Korean Air

has refused to offer refunds to its customers traveling to Korea.

In contrast, there are airlines who have kept themselves safe from the wrath of this disease. Delta, Jetblue, and even United have agreed to waive cancellation or change fees, only to ensure that they increase their long-term moral worth, even though it may be at the cost of a short-term dip in their net worth. Yet, there exist airlines like China Airlines and Korean Air, which, amidst a pandemic, continue to prioritize their net worth over their moral worth. This will potentially cost them billions in the long-run. Soon, the skies will turn blue; Coronavirus will subside; people will travel; they will book flights; they will remember how some airlines did not stand with them in the time of their need; they will boycott those airlines. I suggest: Let's do it now. For when a business prioritizes its shareholders above everything and tries to make money by leveraging a global emergency, that business ought to not exist.