The world's airlines say they won't recover until 2024, reflecting a new wave of pessimism...

[Nevilledog]

The world's airlines say they won't recover until 2024, reflecting a new wave of pessimism as the pandemic rages on

https://www.businessinsider.com/airlines-coronavirus-recovery-2024-delays-2020-7

The International Air Transport Association (IATA), a global trade group representing most of the world's major airlines and cargo carriers, said earlier this week that it does not expect the air travel industry to recover from the hit dealt to it by the coronavirus pandemic before 2024.

That timeline, which defines "recovery" as a return to 2019 levels of traffic and revenue, is the most dire yet offered by the group, which had previously forecast a bounce back by 2023.

"Ahead of any vaccine, it really does depend on how well countries manage to control the virus," IATA's chief economist, Brian Pearce, said in a briefing on Tuesday. "That is clearly going to be an issue with the recovery. What we haven't seen is the sort of progress that we need."

The bulk of the problem is that the flying public has relatively little interest in flying. "While pent-up demand exists for VFR (visiting friends and relatives) and leisure travel, consumer confidence is weak in the face of concerns over job security and rising unemployment, as well as risks of catching COVID-19," IATA said in a press release.

*snip*

[Blues Heron]

1. Jet setting days are over

the idea you're going fly off to Thailand or whatever for vacay has become obsolete, and none too soon. Time to stay home and take care of the earth. Bucket listy stuff is a thing of the past.

[Sherman A1]

2. It will be lucky to get back by then

As businesses figure out they can get by with Zoom meetings they will be less likely to fill airline seats with their people for travel.

[crickets]

3. Maybe the world doesn't want or need to get back to 2019 levels of air traffic. nt