Rampant FearCHR is priced as if aviation is never coming back. Bombardier reported rebound in private jet demand, same with Textron and Gulfstream Aerospace:
“We continued to see signs of a strong recovery in the general aviation market, with a 49 per cent increase in revenues over last year’s third quarter and a US$721 million increase in backlog,” said Textron Chief Executive Scott Donnelly in a release."
https://financialpost.com/transportation/airlines/bombardier-narrows-loss-as-business-jet-demand-rebounds
For commercial airlines, Delta CEO: "travelers should be prepared for initial long lines when the United States lifts international travel restrictions for fully vaccinated travelers on Nov. 8."
https://www.reuters.com/business/aerospace-defense/airlines-brace-early-long-lines-when-us-lifts-travel-restrictions-2021-10-26/