No one is going to fly except if they need to
Exactly. I keep saying it, and I will say it again: The older (retired) generation account for a significant percentage of travelers and I'm sure they won't be in a hurry to resume travel by mass transport soon. I personally have gone from roughly 50 flights a year to zero so far. It won't surprise me if zero will be my total for 2020. Am I hiding under a rock? No, I have little choice as things stand at present. Flying may resume to near normal levels by the younger generation but the overall loads won't for a good while yet.