I read recently in the news how so many airlines have had to begin to mothball their aircraft for long term storage, the costs of this coupled with the forecasts of much reduced passenger numbers immediately after the Pandemic, possibly for many months, means many of the older aircraft in their fleets may even be scrapped, broken up for spare parts. Sadly, the result of all this contraction also means fewer jobs in the industry.

Fewer aircraft, fewer flights, and if 'Social distancing' is to continue, far fewer seats can be occupied in the aircraft to maintain a safe distance between each passenger at much higher costs.

Will the costs of air travel be far higher in the future? Will air travel return to normal at sometime in the future? What are your thoughts

We will fly our own crafts. What-ever they may be.

It's estimated, that air travel is down by 95%
within the U.S. .

This isn't because of any government mandate.
It's a voluntary reduction in travel, by the
consumer.

The pandemic, combined with the sucky-est
customer service, and the 'tards in TSA
uniforms at the airports... Nobody wants
to fly.

That's great news for me. I actually love flying, I don't care for the busy airports though.

So with the fares being low, and others being hesitant to travel, it would be a good time to start planning a couple trips for late summer, early fall. Hopefully people will still be weary and I will pretty much have the plane to myself

I think many things will change. They actually already were. For instance, government forcing us to start driving electric cars instead of petrol, cooking electrically instead of gas etc etc.
This will have consequences for the petrol and gas industry. But industries will adept. One may collapse, another will rise, like car companies making electric cars now.
Others building recharge stations along the roads and so on.

We had way too many airplanes flying around so if that collapses, changes, good! I live in a remote area, but you could see some 13 lines in the sky at any given time. Sometimes more.
People have already posted on FB on this, NO lines from planes in the sky! Wonderful! Less pollution which will do the planet good, and us too.
We don't need international holidays in order to survive or be happy. Maybe they should come up with a restriction, so many international flights per XXX. Not more than 1 a year, less would be preferred.
That would do the economy of people's own country a lot of good!
Again, one industry collapses, another will rise: domestic tourist industry will flourish, and creating different means of transport that isn't so bad for the planet. This means jobs. Different type of jobs, but jobs nonetheless.
After all, we all want a healthier planet with clear skies and clean water.
So let it collapse.

Thanks for all the comments. I think it will probably be a short term slow down, too much invested in the infrastructure and the aero industry for it to fail, plus large numbers of people like their overseas holidays. I think the cost of air travel may fall to begin with to tempt us all back, but prices will probably increase above what they were in the long term.

Drastic fleet reduction by British Airways, the aero industry is being hit hard in this Pandemic, fewer planes means fewer seats, this could result in higher fares on long haul flights.

http://www.bbc.co.uk/news/business-53426886