The airlines are for the most part, are hosed. They are losing millions every day. How long can they keep bleeding like that? Not long, regardless of the government bail out loans. I think the carriers are going to lose billions. I don't see how all of them can survive. This is far worse than 9/11. Back then, they got government bailouts and still filed bankruptcy. Then came the mergers, the concessions and some complete failures. This is obviously, going to last much longer. If this plays out for months, there are going to be massive furloughs and lay offs at every level in the aviation industry. Those "protections" in the government loans end after September. The international flying is all but done and domestic has hit the skids. Several Regionals could easily be toast. Freight should be okay.
I don't think that we will ever return to what we knew as "normal", in truth. A second wave of this virus could hit again this fall/winter according to some epidemiologists. We haven't experienced a virus like this since the H1N1 that struck in two seasons. Remember too, just how much the "fear factor" plays into all of this as well.
Two months into this current outbreak, massive layoffs have started, American industries have demanded bailouts, and unemployment rates have surged. Economists at the Federal Reserve Bank of St. Louisare are projecting total employment reductions of 47 million which means an unemployment rate of 32.1%!! What the hell will people do then?
Can you imagine no more cruises, concerts, sport games, conventions, Olympics, libraries, swap meets, fairs, air shows, going to beaches and parks, auto races, movie theaters, large outdoor entertainment theme parks and dozens of other large public venues/places no longer existing? How many millions of jobs will be lost? What will the airlines, hotels, restaurants and retail stores do? Hell, many states like California have closed their schools through the end of the year. What are the teachers and support staff going to do?
Countless businesses will be gone forever as well as countless jobs. This is just the beginning of the economic disaster which is now just building and far from it's peak. There is no telling just how horrendous the economic future of this country and the world will be. I think the entire world economy is gong to be in a huge amount of crap for a long time. Tip of the iceberg thus far. I hope everyday that I am wrong.
