It could be at least 2024 before US airline industry recovers from pandemic

Air travel in the US is unlikely to return to pre-pandemic levels before 2024, the head of a leading airline lobbying group said Thursday. Nicholas Calio, CE of Airlines for America, said that despite aggressive cost-cutting measures and billions in government support, the industry is still struggling to survive amid the worst economic downturn in aviation history. “We’re going to do everything we can to get people back on airplanes,” Calio said. “But right now, we’re fighting for survival.” Calio said the billions of dollars in support the government has offered airlines has been a lifeline and criticized those who’ve characterized the program as a “bailout.” “People who call that a bailout don’t know what they’re talking about,” he said. “It was a simple pass-through to keep [employees] on board.” Under the payroll support program created as part of the Cares Act, passenger airlines and cargo carriers were eligible for more than $25b in grants and more than $25b in loans. Carriers that accepted the grant money had to agree to a number of conditions, including keeping front-line workers on the job through the end of September, when many expected the industry to recover. But that hasn’t happened and now tens of thousands of workers face the prospect of being furloughed at the end of this month. Unions have lobbied for a second round of federal support and in recent weeks have been joined by their employers.<br/>