Stock markets may be showing a degree of confidence that the worst of the covid crisis is over, but uncertainty continues to prevail for aviation, for whom the crisis is more acute than other industry segments. In this issue we speak with Fitch analysts about this, and elaborate on their views as to the nature of this uncertainty. They say lessor liquidity is key, of course, for that sector, but, of most immediate concern is the financial health of airlines, which IATA continues to monitor with great authority. The actions of governments around the world in plugging the cash gaps in airline finances will be key to the outcome, and we survey their actions to date around the world in this issue.