Boeing's CEO says a major US airline could collapse this year because of the COVID-19 pandemic
A major US airline could fail by the end of the year, Boeing CEO David Calhoun warned on Monday, as demand for air traffic remains near bottom due to the coronavirus pandemic.The comment came during a pre-taped interview with Savannah Guthrie, host of NBC's "Today," which"You know, something will happen when September comes around." he told NBC. "Traffic levels will not be back to 100%. They won't even be back to 25%. Maybe by the end of the year we approach 50%.
Airlines worldwide are facing a collapse in travel demand both internationally and domestically as travel bans, shelter-in-place advisories, and corporate travel suspensions remain in effect. While acknowledging the severity of the situation, Calhoun was also optimistic about the industry's long-term recovery.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Boeing CEO Warns A Major Airline Will ‘Most Likely’ Go Out Of Business This Year Because Of CoronavirusI am a breaking news reporter for Forbes in London, covering Europe and the U.S. Previously I was a news reporter for HuffPost UK, the Press Association and a night reporter at the Guardian. I studied Social Anthropology at the London School of Economics, where I was a writer and editor for one of the university’s global affairs magazines, the London Globalist. That led me to Goldsmiths, University of London, where I completed my M.A. in Journalism. Got a story? Get in touch at isabel.togohforbes.com, or follow me on Twitter bissieness. I look forward to hearing from you.
Read more »
Boeing CEO predicts coronavirus pandemic will claim a major U.S. airline. He didn't name namesWith anemic passenger counts and no signs travel will rebound quickly from the coronavirus pandemic, airlines are fighting for their financial lives
Read more »
Boeing CEO Warns A Major Airline Will ‘Most Likely’ Go Out Of Business This Year Because Of CoronavirusI am a breaking news reporter for Forbes in London, covering Europe and the U.S. Previously I was a news reporter for HuffPost UK, the Press Association and a night reporter at the Guardian. I studied Social Anthropology at the London School of Economics, where I was a writer and editor for one of the university’s global affairs magazines, the London Globalist. That led me to Goldsmiths, University of London, where I completed my M.A. in Journalism. Got a story? Get in touch at isabel.togohforbes.com, or follow me on Twitter bissieness. I look forward to hearing from you.
Read more »
Qantas pauses plane deliveries from Airbus, Boeing due to virusQantas Airways Ltd said on Monday it had advised Airbus SE and Boeing Co that it did not expect to take delivery of any new planes in the near term as it grapples with a plunge in demand due to the coronavirus pandemic.
Read more »
Former Google CEO Eric Schmidt has cut last ties with Alphabet: reportIt's apparently the end of an era in Silicon Valley, as former Google chief executive and chairman Eric Schmidt has cut his last ties to the tech giant, CNet has reported. Schmidt left his role as a technical adviser to Alphabet Inc. in February, CNet reported Saturday, citing a person familiar with the situation. Schmidt was named CEO of Google in 2001, guiding it through its spectacular 2004 IPO and its years of explosive growth until stepping down in 2011. He served as executive chairman until 2017. Schmidt is currently chairman of a pair of defense-related initiatives, and advises the military on how to upgrade its technology. He has also recently been enlisted by New York Gov. Andrew Cuomo to head a commission tasked with "reimagining" the path of state's recovery after the coronavirus pandemic.
Read more »
Tesla CEO Elon Musk says he has restarted California factoryFREMONT, Calif. (AP) — Tesla CEO Elon Musk confirmed on Twitter Monday that the company has restarted its California factory in violation of local government orders. Musk asked in the afternoon...
Read more »