Working from home productively and virtual meetings are game changers, virtual meetings will reduce the need to travel, not eliminate it entirely but IMO will impact business travel which is the cash cow for a lot of airlines.
Agree.
The Deloitte survey was about leisure travel
But business travel will be harder hit than leisure
a) businesses will be looking to cut costs. A Zoom meeting looks attractive compared to losing someone for a day and the travel expenses. It won't go to zero, but it will decrease. A lot.
b) you can't use Zoom for a holiday
c) the ongoing risk of air-travel may be worth a 2 week holiday somewhere nice. But less so for a 2 hour meeting in another city.
Leisure will pick up first. But people will be price conscious, and many will downgrade (Fiji instead of Europe, Qld instead of Fiji)
The highest yield seats on a plane are J and full Y, which are often business travellers.
Deeply discounted Y are very low yield, but are the sorts of tickets people will be buying.
There will be exceptions to all the above. Some business travel will continue. And some people will still holiday in Europe and USA in 20201.
But businesses have to look at what most people are doing.