British airline Flybe has become one of the first corporations to collapse under the weight of a global tourism crash sparked by the coronavirus outbreak.

The struggling regional carrier announced it is going into administration and all flights have been grounded, stranding many passengers, according to MarketWatch.

“Europe’s largest independent regional airline has been unable to overcome significant funding challenges to its business,” Flybe explained in a statement.

“This has been compounded by the outbreak of coronavirus which in the last few days has resulted in a significant impact on demand.”

The viral outbreak, which originated in China, has wreaked havoc on international travel, with some fully-booked flights departing virtually empty.

Airlines are now reducing flights to heavily-affected areas, such as northern Italy, or suspending service altogether.

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