I know Calin has to put on the brave face to preserve investor confidence, but he's out of his mind if he honestly believes business travel will come roaring back this year. Beyond the excellent points conveyed in the preceding posts, the reality is that many companies who have already taken major revenue hits will continue to cut costs at least through the rest of this year as they try to offset the losses. Travel will be at the top of their lists.
I think it is also reasonable to expect that some amount of business travel will be replaced by zoom/webex meetings permanently. I hate virtual meetings as much as anyone, but no question there are more than a few CFOs and corporate controllers out there looking at expenses over the last quarter or two and raising an eyebrow when they see how much they've saved in travel expense.