The COVID-19 pandemic, as well as recent political and economic events, have highlighted a number of complicated and hotly debated issues regarding the valuation of airlines in the context of restructurings. This panel discusses, among other things, how macroeconomic issues are impacting business plans and valuations, the way valuation issues play out in large airline restructurings, and investors’ views on the role that valuation plays in investment decisions and negotiations of restructuring transactions.