Norwegian is cancelling about three,000 flights until finally mid-June adhering to a drop in desire from the coronavirus outbreak.

That is about 15pc of the airline’s total capability for this interval.

The enterprise has also place quite a few other steps in area, including short term layoffs of a “considerable share of its workforce”.

Afflicted clients will be knowledgeable about cancellations.

Main executive Jacob Schram claimed: “Unfortunately, cancellations will have an impact on a considerable share of our colleagues at Norwegian. We have initiated formal consultations with our unions regarding short term layoffs for traveling crew customers as very well as personnel on the ground and in the workplaces.”

He added: “This is a significant time for the aviation field, including us at Norwegian. We persuade the authorities to instantly put into action steps to imminently decrease the financial burden on the airlines in order to defend critical infrastructure and careers.”

The Telegraph reported on Sunday that Arrowstreet Money, a $106bn (£81bn) hedge fund released by British isles-born Harvard professor John Campbell, is amid traders betting Norwegian will be the next airline to fall short.

Numerous airlines have slashed capability to and from Italy in the wake of the nationwide lockdown introduced on Monday.

Ryanair will suspend all flights until finally April 8, whilst British Airways has also stopped traveling to Italy.

EasyJet proceeds to function a modest selection of flights to the place.