The business market will definitely be affected in perpetuity even after the crisis has abated. Such trips will be less in frequency and volume, and even though airlines are trying to reach out (all but one of the carriers I use has sent several messages) that is unlikely to be sufficient for most. Even if they gave cheaper corporate rates, cheaper is still more expenses than zero cost (and that is not considering that flights also mean hotel and other related costs).
Unfortunately for the airline industry, there will be an overhang of business travel that simply will not be coming back. It may only be 20-30% that is not coming back, but that 20-30% will have an impact on their bottom line.
Good post Spetz. I remember the first test 747 flight from I believe early 1968, or 1969. I lived in Seattle then and it was a huge gamble by Boeing at the time. A year later I flew on one to Holland. Damn, what a machine!!!