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

Go deeper

The TikTok deal's for-show provisions and flimsy foundations

Illustration: Aïda Amer/Axios

The new deal to rescue TikTok from a threatened U.S. ban — full of provisions aimed at creating the temporary appearance of a presidential win — looks like a sort of Potemkin village agreement.

How it works: Potemkin villages were fake-storefront towns stood up to impress a visiting czar and dignitaries. When the visitors left, the stage set got struck.

  • Similarly, many elements of this plan look hastily erected and easily abandoned once the spotlight moves on.
49 mins ago - Technology

Over 3 million U.S. voters have already registered on social media

Illustration: Eniola Odetunde/Axios

An estimated 2.5 million+ Americans have registered to vote on Facebook, Instagram, and Messenger, Facebook announced Monday. More than 733,000 Americans have registered to vote so far via Snapchat.

Why it matters: The broad reach of social media platforms makes them uniquely effective at engaging voters — especially younger voters who may not know how to register to vote or be civically engaged.

Felix Salmon, author of Capital
1 hour ago - Economy & Business

Wall Street: Recession is over

Illustration: Aïda Amer/Axios

U.S. economic activity fell more sharply in the second quarter of this year than during any other quarter in history. It's also going to grow more sharply in the third quarter of this year than during any other quarter in history.

  • The recession is over, according to Wall Street, with current forecasts showing sustained economic growth through 2021 and beyond.