The airline admits that it overestimated demand for the season, and it has also suffered from contractor crew shortages.

Tourism generates $4 billion a day, with Spain and Japan doing well and Russia re-entering the top ten of world spenders.

The Nordic-owned carrier is ceasing eight short-haul routes from the UK, to Spain and Iceland.

Wizz Air prepares for a “great expansion” in eastern Romania, while Air Europe returns to the Nordics.