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A4A: full recovery for US airlines is years away
US airlines will be grappling with the economic fallout of the Covid-19 pandemic for years to come, says trade group Airlines for America.
The group doesn’t see a full recovery until 2024.
"We don’t see any significant increase in demand. We don’t see it fully rebounding until 2024," A4A CEO Nicholas Calio told reporters.
"We are doing everything we can to keep our companies afloat. People talk about the situation being dire. It is dire. Right now, we’re fighting for survival. No bones about it."
Calio said the industry is already a smaller one compared to earlier this year before the pandemic, which means less choice and reduced capacity.
It will shrink further without immediate assistance from the taxpayer, he said.
"Our hope is that there will be more aid coming from the government in terms of a new CARES Act."
The current funding expires at the end of this month.
From October airlines are finally permitted to make job cuts and tens of thousands are likely to lose jobs if no new bailout is announced.
There has been little progress on new funding through Congress but President Trump said this week financial help will be made available for airlines.
Passenger traffic is still down about 70% with nearly one-third of all passenger jets sitting idle.
Written by Ray Montgomery, US editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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