Boeing’s chief executive said there is a risk that a major US airline will fail as the Covid-19 pandemic all but erases demand for flights.
The recovery is going to be slow, with air traffic taking years to rebound, Boeing chief executive Dave Calhoun said in an interview with NBC on Tuesday. Asked by Today show host Savannah Guthrie if a major airline might have to fold, Mr Calhoun said travel would still be depressed in September – the last month of the US government's payroll support for airlines.
“I don’t want to get too predictive on that subject but yes, most likely,” he said. “Something will happen when September comes around. Traffic levels will not be back to 100 per cent. They won’t even be back to 25. Maybe by the end of the year we approach 50. So there will definitely be adjustments that have to be made on the part of the airlines.”
Carriers worldwide are facing a collapse in demand for flights as governments restrict travel and consumers heed warnings to stay home. Boeing is shrinking its business as the company’s airline customers delay orders and rethink their fleets. Mr Calhoun has predicted air travel won’t return to pre-virus growth levels until the mid-2020s, and the Chicago-based plane maker last month announced plans to cut 10 per cent of its workforce and slow jetliner production.
The chief executive “was speaking to the general uncertainty in the sector, not about any one particular airline”, Boeing spokesman Gordon Johndroe said in response to the NBC interview.
When NBC’s Ms Guthrie said an unnamed airline executive had described the situation as “apocalyptic”, Mr Calhoun agreed that the short-term outlook was grim.
“‘Apocalyptic’ does actually accurately describe the moment,” he said.
The airline industry will rebound after the “near-term turmoil,” but the comeback will take years, he said.
“Near-term, for me, doesn’t mean a few months,” he said. “I believe it’s three full years before we return to the traffic levels that we had just in 2019 and probably another two before we return to the growth rates that we used to have.”
Still, Boeing is confident enough in the medium-term outlook – over the next three years or so – to plan aircraft production, Mr Calhoun said. Analysts have questioned whether the cuts the company has outlined are deep enough to reflect the expected airline shakeout.
The airline industry will gradually rebuild passenger confidence in travel with measures such as airport screening for fevers and illness, he said. And for passengers worried that aeroplane cabins are flying petri dishes, the Boeing chief executive highlighted the air-filtering systems on jetliners.
“Believe it or not, that cabin replaces its air every two to three minutes,” he said. That system “was designed to prevent transmission of exactly this kind of airborne carrier".
ALL THE RESULTS
Bantamweight
Siyovush Gulmomdov (TJK) bt Rey Nacionales (PHI) by decision.
Lightweight
Alexandru Chitoran (ROU) bt Hussein Fakhir Abed (SYR) by submission.
Catch 74kg
Omar Hussein (JOR) bt Tohir Zhuraev (TJK) by decision.
Strawweight (Female)
Seo Ye-dam (KOR) bt Weronika Zygmunt (POL) by decision.
Featherweight
Kaan Ofli (TUR) bt Walid Laidi (ALG) by TKO.
Lightweight
Abdulla Al Bousheiri (KUW) bt Leandro Martins (BRA) by TKO.
Welterweight
Ahmad Labban (LEB) bt Sofiane Benchohra (ALG) by TKO.
Bantamweight
Jaures Dea (CAM) v Nawras Abzakh (JOR) no contest.
Lightweight
Mohammed Yahya (UAE) bt Glen Ranillo (PHI) by TKO round 1.
Lightweight
Alan Omer (GER) bt Aidan Aguilera (AUS) by TKO round 1.
Welterweight
Mounir Lazzez (TUN) bt Sasha Palatkinov (HKG) by TKO round 1.
Featherweight title bout
Romando Dy (PHI) v Lee Do-gyeom (KOR) by KO round 1.
6 UNDERGROUND
Director: Michael Bay
Stars: Ryan Reynolds, Adria Arjona, Dave Franco
2.5 / 5 stars
The biog
From: Upper Egypt
Age: 78
Family: a daughter in Egypt; a son in Dubai and his wife, Nabila
Favourite Abu Dhabi activity: walking near to Emirates Palace
Favourite building in Abu Dhabi: Emirates Palace
FORSPOKEN
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Marvel's%20Spider-Man%202
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Starfield
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Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
More from Neighbourhood Watch:
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What is graphene?
Graphene is a single layer of carbon atoms arranged like honeycomb.
It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were "playing about" with sticky tape and graphite - the material used as "lead" in pencils.
Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But as they repeated the process many times, the flakes got thinner.
By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment had led to graphene being isolated for the very first time.
At the time, many believed it was impossible for such thin crystalline materials to be stable. But examined under a microscope, the material remained stable, and when tested was found to have incredible properties.
It is many times times stronger than steel, yet incredibly lightweight and flexible. It is electrically and thermally conductive but also transparent. The world's first 2D material, it is one million times thinner than the diameter of a single human hair.
But the 'sticky tape' method would not work on an industrial scale. Since then, scientists have been working on manufacturing graphene, to make use of its incredible properties.
In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. Their discovery meant physicists could study a new class of two-dimensional materials with unique properties.
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
UAE squad
Humaira Tasneem (c), Chamani Senevirathne (vc), Subha Srinivasan, NIsha Ali, Udeni Kuruppuarachchi, Chaya Mughal, Roopa Nagraj, Esha Oza, Ishani Senevirathne, Heena Hotchandani, Keveesha Kumari, Judith Cleetus, Chavi Bhatt, Namita D’Souza.
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
MATCH INFO
Barcelona 4 (Messi 23' pen, 45 1', 48', Busquets 85')
Celta Vigo 1 (Olaza 42')
More on Quran memorisation:
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
England v South Africa schedule:
- First Test: At Lord's, England won by 219 runs
- Second Test: July 14-18, Trent Bridge, Nottingham, 2pm
- Third Test: The Oval, London, July 27-31, 2pm
- Fourth Test: Old Trafford, Manchester, August 4-8
