Gary Kelly, CEO of Southwest Airlines in Annapolis, Maryland in 2018. Photo: Alex Wroblewski/Getty Images

Southwest Airlines CEO Gary Kelly said on Thursday that the drop in domestic air travel amid the novel coronavirus outbreak "has a 9/11-like feel," CNBC anchor Carl Quintanilla reports.

Driving the news: The spread of COVID-19 could cost airlines up to $113 billion in lost revenue due to declines in air travel this spring and early summer, the International Air Transport Association projected earlier on Thursday.

What they're saying: "We're 97% domestic, so what we're seeing is a drop-off in domestic travel," Kelly added.

  • "We could discount prices and it wouldn't do any good .... We are not running dramatic fare sales," he said, according to Reuters' David Shepardson.

Go deeper: Coronavirus to deliver largest decline in international travel to U.S. since financial crisis

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Updated Jul 3, 2020 - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

England announced on Friday it is dropping its mandatory 14-day quarantine for visitors from more than 50 countries, but for the U.S., which has seen coronavirus cases increase sharply.

The big picture: The European Union also extended its ban on travelers from the U.S. and other countries that don't have infections under control like Russia and Brazil.

Cities hit hardest by coronavirus saw huge drops in local commerce

Adapted from JPMorgan Chase Institute; Chart: Axios Visuals

The sudden economic shock from coronavirus stay-at-home orders caused a stunning drop in local commerce in cities across the country, with San Francisco seeing the heaviest decline, followed by Chicago, New York and Detroit.

How it works: The JP Morgan Chase Institute analyzed a subset of credit card transactions typical of everyday goods and services bought and sold at the local level to create a "local commerce" economic view.

Updated 13 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 11,143,945 — Total deaths: 527,681 — Total recoveries — 6,004,593Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 2,818,588 — Total deaths: 129,584 — Total recoveries: 883,561 — Total tested: 34,213,497Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Trump extends PPP application deadlineKimberly Guilfoyle tests positive.
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: 31 MLB players test positive as workouts resume.
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.