Dave Calhoun, President of Boeing
Adam Jeffery | CNBC
The slow distribution of Covid-19 vaccines will prolong the long-awaited recovery in travel demand until mid-summer, Boeing CEO Dave Calhoun said on Wednesday.
The aircraft maker recorded a record annual net loss in 2020, as the pandemic was pressing airlines to suspend or reduce plans to add new jets to their fleets. Governments around the world put strict travel restrictions in place in 2020 and potential passengers have abandoned vacations and business trips.
“I think we all expected the vaccine to be distributed a little more smoothly,” Calhoun said in an interview with CNBC’s “Squawk on the Street”.
Calhoun said he expects demand for leisure and business travel to be strong once more people are vaccinated, but that the process will take several months more.