Southwest CEO: It could take 10 years for business travel to bounce back

"We have to assume that business travel will be lighter and for a long time," Southwest CEO Gary Kelly told CNBC's "Squawk on the Street" Thursday. "In a normal recession, business travel is cut very sharply and it takes five years for it to return before it starts expanding again… that was the case in 2008. It was the case in 1991. You got to believe that would at least be the case now."