Nickler - you are correct about the virus - but that's not REALLY the problem - as TURIN said its the uncertainty - if I book a flight for travel in a month's time what are the chances that it will be cancelled, changed, or banned ? Pretty high I'm afraid - and getting your money back - ho, ho, ho
No Western Democracy can say " sure a few more people are going to die but it's worthwhile to save the airline industry" - the media and the voters would crucify them (oh for the days of Lee Kwan Yew and commonsense).
I'm (hopefully) travelling this week - but am I certain it'll be routine & trouble-free - no way. The Leisure market was built on cheap as possible mass transportation with 30 minute turnarounds - business on certainty, lots of choices and ability to vary your flights. Until there is a vaccine there won't be any certainty - and a lot of airlines are bleeding to death. When it does come back it won't be a great rush back - it will be tentative, slow and in a much reduced industry.