1) at some point, it’s that one more thing that gets you. Right now, as the kids say, it’s “all the things”. Not saying zoom will do it alone; I’m saying zoom hurts and it’s not minor

2) as noted above, losing 10% of your most profitable customers is non-trivial

3) even if zoom ultimately reduces travel by 0% it could still cause bankruptcies if companies take two years to try and reject it meanwhile Starving airlines of their most profitable customers for that many more months.

the biggest unanswered question is how fast things come back. Every month longer is more structural change