Not Just Airlines

The U.S. airlines furloughed 32,000 people yesterday, as a government support program ran out. The travel industry is collapsing, but it’s not just the airlines:

Hospitality: “more than two-thirds of hotels said they would not be able to last six more months at the current projected revenue and occupancy levels, and half of the hospitality owners polled said they are in danger of foreclosure.”

And this: “Business is booming at a sea dock in western Turkey, where five hulking cruise ships are being dismantled for scrap metal sales after the COVID-19 pandemic all but destroyed the industry, the head of a ship recyclers’ group said on Friday.”

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