American aircraft manufacturer Boeing CEO Dave Calhoun does not expect travel to return to normal levels for two to three years. He said this in a speech to shareholders on Monday, writes CNBC.

According to CNBC, the number of flights in the United States has decreased by 95 percent compared to a year ago. At the same time, airlines have parked most of their fleets, while some plan to postpone orders for new planes due to the corona crisis.

The pressured aircraft manufacturer Boeing also does not expect travel demand to recover for two to three years. In addition, Boeing CEO Dave Calhoun predicts that the current crisis will result in a number of bankruptcies in the industry.

”Once it recovers, the commercial market will be significantly smaller,” Dave Calhoun said during Monday’s annual shareholder meeting.

The Boeing boss also said that it could be another three to five years before the company can make any stock dividends to its owners.

Boeing was under heavy pressure even before the corona crisis took hold of the industry, given the accidents that have led to the grounding of the 737 Max model.

Source: di.se