- Boeing (BA -6.9%) is today's biggest Dow loser following some stark comments last night from United Airlines (UAL -11%) CEO Oscar Munoz and President Scott Kirby that travel demand is essentially zero and shows no sign of improving in the near-term.
- United said it flew fewer than 200K people during the first two weeks of April, a staggering 97% drop from more than 6M during the same time in 2019, and it expects fewer people will fly during the entire month of May than on any single day in May of last year.
- The airline also does not see a quick snap back in demand, which it believes likely will remain suppressed for the rest of 2020 and likely into next year.
- Any improved investor sentiment from this week's agreement with the Treasury Department to keep employees on board thru Sept. 30 was short-lived.