What segments are likely to bounce back first?

We are already seeing in those markets that are being able to reopen that the first business to return is the domestic market. Within the domestic market the leisure market, particularly younger travellers, are going to start travelling again, with spikes of demand over the weekends. This is clearly determined by the travel limitations still in place.

The corporate market, again mostly domestic, is going to start resuming, which will start to support midweek business.

A segment that I see that is going to be more challenging to really the resume and go back to normal is going to be group events. Companies are going to have limited budgets and are going to be very risk averse to organizing big gatherings.

Big events, such as sports events, conferences and concerts, are going to be either postponed altogether or fully scaled down.