This. Vast percentage of revenue at the legacy carriers comes from not just business, but contracts for travel with major corporations. Even SWA makes earns a huge amount of revenue from business fliers. On the other hand, airlines that rely primarily on leisure travel may not even survive the pandemic, especially if the new administration "listens to the scientist".
I really thought I had an idea about how we would get back to normal but now I am very unsure. As a passenger you put yourself in jeopardy for the slightest deviation in behavior and risk being banned. States are implementing their own protocols for even domestic travel (California checking test status as a condition to even board for a California destination). I've heard that TSA is readying protocols to validate immunization or testing status for domestic airline travel. POTUS-Elect is setting expectation of at least 100 days of restrictions post 1/21/2021. Europe is telling US citizens to stay away. I have good friends that work for GE, J&J, JP Morgan/Chase, P&G and they all went from high end airline and hotel status to zero travel. High value knowledge workers are home. Maybe for good - I don't know.
That said I was talking to one of our reservists today, United dude who flies 787. He talked about the boom in cargo ops with empty pax seats but lots and lots of cargo.
Private aviation and 135 is booming. The people who have the means are traveling for work and pleasure in an isolated mode. I know multiple folks who retired from airlines that were lured back to fly King Airs, Citations, and PC-12's. GA and training is booming too. Our club aircraft are booked solid and people are taking trips at every opportunity - even if it means getting there at 120 Kts.
Its really unclear to me what normal will be like when it happens.