Should domestic air travel be grounded?

New York (CNN Business)Domestic air travel in the United States has virtually come to a halt, but thousands of planes are still flying. How long does it makes sense to keep doing that? Figures from the Transportation Security Administration show that only 331,000 people passed through TSA checkpoints Monday, a drop of more than 2 million passengers, or 86%, compared to the same Monday a year ago. That's not surprising with 16 states, comprising 43% of US population, issuing orders that people should stay home whenever possible.

Health professionals are saying that people should not gather in groups of 10 people or more or engage in any non-essential travel. The Trump administration clearly does not want to order such a shutdown, especially as it negotiates a possible bailout of the airline industry. "Although we've told people nonessential travel they shouldn't do, but [for] essential travel, we want to have airlines that operate, maybe on a more limited basis," said Treasury Secretary Steve Mnuchin when speaking to reporters on Capitol Hill a week ago. Grounding all flights could actually be an economic benefit for airlines, which are undoubtedly losing money on every single flight.

They are flying planes with only 20% to 30% of seats filled, far below the level needed to break even. That's true even as they slash their schedule by 50% or more in an effort to conserve cash. And the few seats they're selling are for a fraction of normal fares. A flight on United Airlines (UAL) from its Newark, NJ, hub to Atlanta on Tuesday is available for $48.

40. A Delta (DAL) flight from Atlanta to Chicago is going for $44. 40. A Southwest (LUV) flight from Baltimore-Washington to Los Angeles was available Tuesday morning for only $129.

And an American (AAL) flight from Miami to Phoenix goes for $128. And that's what the passengers are paying, not what the airlines are getting, due to the fees and taxes the passengers must pay. For example, Delta is getting only $27. 91 on a $44.

40 Atlanta to Chicago fare. "What the industry should do is shut down," said Helane Becker, airline analyst with Cowen. "Flying with 20% to 30% of seats filled with fares they're getting, they're just burning through cash.