Yep - the business travel issue will definitely have an impact, but I suspect that in the past many seats at the sharp end were also filled by old farts like me (and my wife, who doesn't fart - or so she says) on leisure trips.
We've canned out of three business class return flights with AIR this year due to Covid. We'll definitely fly to Oz or the Islands once those bubbles are open but it will be quite a while before we are thinking about venturing much further - even if they start flying to other countries.
That's a double whammy for AIR and why I sold my modest holding a while back - admittedly at a loss - but I think there's a bigger one coming.