The CEO of CityJet has warned that it could take three-four years for aviation to return to anything like 2018-2019 levels, and that most airlines will be 30-40% smaller.
Pat Byrne said he believed the industry had been overheating with an explosion in new aircraft orders, particularly for larger type plans.
But he added that the bubble had now "truly burst" due to the sudden shock caused by the coronavirus. The CityJet CEO was speaking as around 25 pilots protested outside the airline's headquarters amid accusations that it was offshoring the jobs of Dublin-based staff to Scandinavia.
Mr Byrne noted that CityJet is in examinership, because the coronavirus had "taken our revenue off the table". He said the company had lost four of its