Boeing CEO sees slow airline rebound, no dividend for ‘years’ due to coronavirus lockdowns
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.
