Bloomberg Businessweek

The Aborted Airline Takeoff

Just a month ago, airlines around the world began adding flights as lockdowns eased and people craved escape. But as the travel season reaches what should be its annual peak, hopes for an industry comeback have been dashed by flareups of the pandemic in Asia, a deepening health crisis in the Americas, and the reimposition of flight curbs in Europe. With optimism about a quick rebound gone, the aviation world is increasingly resigned to years of depressed demand.

Airlines are now rethinking plans to restore their schedules and facing a jump in bankruptcies. It’s also forcing a reassessment of just how

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