Boeing expects travel will return to 2019 levels in two to three years

Boeing president and CEO David L Calhoun said (29-Apr-2020) that due to the "swift and severe nature" of the COVID-19 shock, Boeing is "intensely focused on ensuring liquidity through the immediate crisis". Boeing has welcomed announcements by 26 countries, including the US, of economic support packages worth more than USD100 billion specifically targeting the aerospace and airline sectors. Mr Calhoun noted the "fundamentals that have driven air travel the past five decades and doubled air traffic over the past two decades remain intact" and Boeing believes the "industry will recover, but it will take two to three years for travel to return to 2019 levels, and it will be a few years beyond that for the industry to return to long-term growth trends". [more - original PR]