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.”
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Boeing CEO Warns A Major Airline Will ‘Most Likely’ Go Out Of Business This Year Because Of CoronavirusI am a breaking news reporter for Forbes in London, covering Europe and the U.S. Previously I was a news reporter for HuffPost UK, the Press Association and a night reporter at the Guardian. I studied Social Anthropology at the London School of Economics, where I was a writer and editor for one of the university’s global affairs magazines, the London Globalist. That led me to Goldsmiths, University of London, where I completed my M.A. in Journalism. Got a story? Get in touch at isabel.togohforbes.com, or follow me on Twitter bissieness. I look forward to hearing from you.
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