Coronavirus could cost the airline industry as much as $113bn (£87.47bn) this year – more than double the previous estimates from International Air Transport Association (Iata).

The industry body had previously estimated that the deadly bug would cost the industry $29.3bn (£22.68bn) in terms of lost revenue.

The previous estimates, issued by Iata on 20 February 2020, was based on a scenario where the impact of coronavirus would be “largely confined to markets associated with China”.

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With the virus now in 80 countries around the world, its impact is already being felt elsewhere.

In an updated analysis released on 5 March 2020, Iata said that there are now two possible scenarios.

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