Report: Airline Industry Suppliers Brace for $60 Billion in Lost Sales
Airlines have recently been seeing an uptick in demand off of COVID-19 pandemic lows, but still plan on a significantly reduced schedule through at least the summer. Delta Air Lines (NYSE: DAL) has said that, even after adding more flights back for July, it expects to have a schedule down 70% compared to July 2019.
With many aircraft moved out of service, maintenance firms and producers of aircraft parts will see a loss of $60 billion in sales this year, according to a Reuters report. The businesses don't expect an improvement any time soon. American Airlines Group (NASDAQ: AAL), for example, has announced that it is permanently retiring some models and is parking its fleet of Airbus (OTC: EADSY) A330-200's through at least 2021.
Source Fool.com
