Boeing’s head said Monday that restoring the dividend could take three to five years as the company girds for a slow air travel recovery in the wake of the coronavirus crisis.
The comment from Chief Executive David Calhoun was a signal that paying back debt and keeping up Boeing’s manufacturing supply chain were bigger priorities than shareholder payouts for the forseeable future.
Speaking at the company’s annual meeting, Calhoun offered a sober outlook on the near-term prospects for commercial air travel in the wake of the virus that is projected to cost the airline industry an estimated $314 billion in 2020 revenues, potentially felling some carriers.
