I think it's too early to tell if airline traffic will come back. I think domestic travel will bounce first as the economy reopens. The lack of lines will encourage some business travel first.
Also remember that Hertz applied for Chapter 11 bk. That means they are holding off creditors while staying in business. So I would say that if they saw no hope, they would have filed chapter 7 right off the bat. May still end up in Chapter 7 liquidation but no now.