Travel industry struggles to rebound from COVID-19
Marriott CEO Arne Sorenson described the sudden loss of hotel guests as “breathtaking in its decline.” Southwest Airlines CEO Gary Kelly said the plunge in ticket bookings had a “9/11-like feel.” Royal Caribbean Cruises CEO Richard Fain called the shutdown of his industry a “weird, unworldly” time.
Travel industry leaders spared no superlative in March when describing the instant devastation from the unfolding coronavirus crisis.
Yet six months after the World Health Organization declared a pandemic, the toll from COVID-19 turned out to be even worse for the industry in most cases, the projected timeline for a travel rebound and recovery extended again and again as case counts remain high, travel restrictions abound and business travel shows few signs of life.
U.S. airlines that had been confident $25 billion in government payroll aid would be the bridge they needed to keep workers employed until travel rebounded are less than