I do not believe Mr Schwartz , whom after so long finally succeeded in entering the aviation world, will be so quick to exit this market.
A vaccine will be produced , and consumer confidence will return and the crisis will diminish. The international market is estimating to fully recover to last years level of traffic in 4 years , and in North America domestically it is estimated to have recovery of domestic traffic to 2019 levels by 2023.
https://www.bbc.com/news/uk-scotland...iness-53628071
I believe Mr Schwartz was quoted as saying this crisis is an opportunity.
“Our focus will be on positioning our companies to navigate this downturn and to be ready to prosper in the recovery“
Read more at: https://www.bloombergquint.com/busin...tressed-credit
After this great crisis there will most definitely be a craving for revenge discretionary spending in the public and thus new growth opportunities for the aviation sector.
In Onex’s most recent earnings call , Mr Schwartz further elaborated
“
our private equity portfolio has several businesses directly and negatively impacted by COVID-19. Others that will suffer varying degrees of headwinds and several that aren't really affected much at all. In each case though, our businesses are important contributors to their markets, with a strong reason to exist and to grow.”https://finance.yahoo.com/news/edite...211128278.html
I am grateful it wasn’t an asteroid that devastated the world for that would have truly decimated the frivolous world of discretionary spending.