The FDA has cleared Gilead Covid-19 drug, Remdesivir, for treatment. This is a positive news for the airline industry. Since the shutdown, the airlines has taken a huge toll. Its employees have been furloughed and the its profits has been long gone. Each airlines is losing billions of dollars per month since the pandemic has started.
However, considering the easing of travel restrictions and allowing businesses to open back up, there is hope that the airlines will bounce back in 2021. It may not return to 2019 level for a couple more years but a recovery is a positive news. It certainly provides hope to the thousands of airlines employees who have been put to the side line since October 1st. While, Remdesivir is not a vaccine, it is a positive catalyst in fighting against coronavirus. President Trump was recently diagnosed with COVID-19 and was treated with Gilead’s drug.
If Remdesivir is highly effective for covid-19 patients who require hospitalization and then there is a vaccine, then it provides ways that we can fight the virus for both healthy people and people who are severely affected by Covid-19.
On another note, recently, the TSA Traveler count hit its all time high since the pandemic started, at 1 million passengers in one day. That is 39.5% of previous year’s number. Delta Air Lines, Southwest Airlines, United Airlines and American Airlines have all released their 3rd quarter earning’s number. While the toll from covid-19 continues, the airlines has seen lower cash burn rate and each expected to burn less cash going in to the final stretch of 2020. American Airlines will be sending their pilots to training on the Boeing 737-800-Max starting in December. While the aircraft is still awaiting for approval from the FAA, the European counterpart of the FAA has approved the Max for flying.
So let’s keep our hopes up that the airlines will recover quicker than expected.