Covid-19: Boeing CEO sees slow air travel rebound, no dividend for ‘years’
Boeing’s CEO David Calhoun on Monday said 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 was a signal that paying back debt and keeping up Boeing’s manufacturing supply chain were bigger priorities than paying dividends for the foreseeable 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 billions in 2020 revenues, potentially felling some carriers.
