It will be years before air travel returns to pre-pandemic levels: Boeing CEO
NEW DELHI: US aerospace major Boeing has warned that air travel will take years to to return to pre-pandemic levels. And even when the situation stabilises, the market for commercial aircraft will be smaller with airlines’ needs hanging drastically. The Boeing Company CEO David Calhoun’s address at this year’s annual meet of shareholders make it clear tha it is “preparing for the new reality.”
“The health (corona) crisis is unlike anything we have ever experienced. With fewer people taking to the skies, global airline revenues are set to drop by $314 billion by the end of the year. In the US alone, more than 2,800 airplanes have been idled, and passenger volume is down over 95% compared to the prior year. It will be years before this returns to pre-pandemic levels,” Calhoun, 63, who became Boeing president and CEO in January 2020, said in his address delivered virtually in the US.
Source: The Times of India