In Relativity and Singularities, Natário states that
A connected time-orientable Lorentzian manifold admits a nonvanishing vector field, and hence is either noncompact or has zero Euler characteristic. The same is true for a non-time-orientable Lorentzian manifold, for it must be true for its time-orientable double cover.
I absolutely cannot see the reason why the projection $\pi:\tilde{M}\to M$ perserves topological properties of $\tilde{M}$ (compactness, non-compactness, $\chi(M) = 0$). It's a local isometry, and thus local homeomorphism, sure, but why does the above follow?
In general, $\pi$ will not preserve topological properties of $\tilde{M}$ because it is not a homeomorphism. However,