Two to three years before a return to normal air traffic

Deux à trois ans avant un retour à la normale du trafic aérien

Global air traffic will not return to its level before the outbreak of coronavirus before several years, said Monday that David Calhoun, the boss of Boeing, referring to a period of two to three years, at the annual meeting of the group.

 • Read also: All the developments on the pandemic

Mr. Calhoun has also announced that it would take 3 to 5 years before the dividends to Boeing only to be restored, the american company undergoing the full force of the economic repercussions of the crisis of the COVID-19.

These difficulties add to the woes of Boeing on its 737 MAX.

“The health crisis like nothing we have experienced before,” said Mr. Calhoun.

“It will take several more years before a return (air traffic) to the levels before the pandemic,” he added.

Calhoun drew a grim picture of the prospects of the airline industry in general and Boeing in particular.

His priority seems to be the reimbursement of debts and the maintenance of the supply chain of the group.

“We know that we’re going to have to borrow the money over the next six months,” said Mr. Calhoun.

Already struggling with the crisis of the 737 MAX, nailed to the ground for more than a year after two fatal accidents have been 346 deaths, the american company is afraid of losing billions of extra dollars because of the pandemic, which has put a halt to global transport.

The group will soon initiate discussions with the u.s. Treasury for any federal measures to support the economy.

Boeing has already received about $ 17 billion through a plan to rescue titanic approved at the end of march, which limits the dividends and the redemption of shares to the companies receiving government assistance.

The american company must report its quarterly results Wednesday before the opening of Wall Street.

Since the beginning of the year, the company’s stock has lost more than 60% on the place in new york, its market value melt more than $ 110 billion.

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