Boeing was dealt a double blow in April as deliveries of new planes ground to a near halt and canceled orders continued to climb in response to an unprecedented drop in air travel caused by the coronavirus pandemic
The company delivered only six planes to customers in April, the lowest number of deliveries since 2008, when the company was dealing with a massive employee strike. Deliveries are important to the company's finances because it receives most of the money from airlines when the plane is actually delivered. Boeing reported a $1.7 billion loss from its core operations in the first quarter,and announced plans to cut 16,000 jobs, about 10% of its staff, to save cash.
"I don't want to get too predictive on that subject, but yes, most likely," Calhoun said in an interview on the Today Show Tuesday when asked about the chance of an airline going out of business."'Apocalyptic' does accurately describe the moment."Still Calhoun said that believes air travel will resume, even if he agrees with forecasts that it will take three to five years for travel to again reach 2019 levels.
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