That is pretty much the case within Europe as well for similar reasons, especially with Spain now in Italian-style lock down and France in semi-lockdown, with restaurants, bars, malls, etc.. as well as non essential shops closed down and no doubt other countries to follow suit in the next few weeks. Overseas students and visitors are returning home and a lot of people, at least here in the UK, are cancelling their Easter holidays to continental Europe and planning to stay home instead.

We are not going to have a complete shut down of all air services but it will be reduced to a skeleton service. With Spain, we even had yesterday an airline in the UK (Jet2) that suddenly decided to cancel all services to Spain and return to the UK all flights that were currently enroute to Spain. As soon as the slots regulation is suspended or its forthcoming suspension firmly confirmed, I would expect substantial further cancellations of services from major, slot-controlled airports.