Boeing CEO Dave Calhoun has said he expects a major airline to go out of business this year as the coronavirus pandemic decimates demand for passenger flights.In an exclusive interview to be aired on NBC on Tuesday, Calhoun said that he doesn’t expect air travel to return to normal this year.
Asked by NBC’s Savannah Guthrie whether an airline might have to fold this year, he replied: “Yes, most likely.” The U.S. government is providing $25 billion in support to hard-hit passenger airlines, in a bid to keep staff employed until at least September, as demand for flights in the U.S. slumped 95% as a result of the pandemic.
But Calhoun believes that this payroll support won’t be enough to stop airlines from having the made adjustments.Calhoun told Guthrie: “Something will happen when September comes around. Traffic levels will not be back to 100%. They won’t even be back to 25%. Maybe by the end of the year we approach 50%. So there will definitely be adjustments that have to be made on the part of the airlines.”
Boeing is now going 🤪
Good, we lose a few airlines and the competition gets stiffer among those still in business. Republicans have always championed a free market, let’s see how you like it when it kills your business and spares your competitors. What say you, free market conservatives?
Ah... to bad😂
Boeing Boeing gone!!!!
So Republicans stress personal responsibility and how Americans (making $7-$12hr should have saved months for a rainy day) but billion dollar companies will file bankruptcy for a few months of less profit. I bet the big wigs of those companies make out like fat cats.