Originally Posted by
Climb150
Cutting travel budgets was spruiked post GFC. As soon as companies got back on their feet biz travel took off.
This is nothing like the GFC. Most of the impact back then was
centred on the US. China was in a position to cushion the blow. Sure the world felt it but recovery was relatively quick. This time round is much different. No country will be sheltered or spared a financial battering. Yes business travel may eventually rebound but the rebound will be very slow and take many years. What happens in the meantime? Do QF run aircraft around half full, heavily discount prices to fill aircraft or worse still, reduce fleet size? Does AJ focus his attention on JQ which has the ability to offer $50 tickets, as this is where demand sits post Covid? Time will tell.
Instead of drawing similarities to the GFC many financial experts are saying that we should be likening this to the great depression. This will give us a better idea of what things will look like post Covid. One thing is certain, airlines will look very different on the other side of this.