Boeing confident industry will recover, expects 2019 levels to be reached in two to three years

Boeing president and CEO David Calhoun stated (27-Apr-2020) the aviation industry will recover from the impact of the coronavirus crisis, however the commercial market will be smaller and customer needs will be different. Mr Calhoun expects it will take two to three years for travel to return to 2019 levels and an additional few years beyond that for the industry's long term trend growth to return. While carriers are now grounding fleets, deferring aircraft orders, postponing the acceptance of completed orders and slowing down payments, Boeing expects operations will stabilise and airlines will continue to buy and maintain newer and cleaner aircraft. Mr Calhoun added: "And as the industry recovers, slowly at first and then with greater vigor, we'll be ready with a diverse portfolio of products and services that our customers want and need". [more - original PR]