IATA warns Covid-19 will cost airlines up to $113bn in revenue this year, as regional airline Flybe collapses, and experts fear others will follow
- Latest: CMA warns against price-gouging
- HSBC sends some staff home at Canary Wharf
- IATA says coronavirus could cost airlines over $100bn
- Breaking: Flybe fell into administration today
- How have you been affected?
2.42pm GMT
Newsflash: Stocks are tumbling on Wall Street at the start of trading, as fears of a global recession sweep the markets again.
Another very nervy session has begun with a wave of sell-orders. This has driven the Dow Jones industrial average down by 709 points, or over 2.6%, to 26,381.
2.33pm GMT
Some Flybe customers should be able to recover the cost of cancelled flights — but they’ll still be hit in the pocket.
My colleague Miles Brignall explains your rights:
Those who bought a tour package should get a full refund, or the offer to reschedule the trip to a later date.
However, many passengers will have been left holding expensive onwards flights, hotel, and other holiday bookings that they will not be able to cancel. In many cases they have lost their money.
Related: Coronavirus flight cancellations: refunds, losses and insurance
