Thomas Cook’s warning that it is in danger of collapse if shareholders fail to back two planned disposals wiped 10% from its share price today.

International Consolidated Airlines Group said profit doubled in the first year of its formation via a merger of British Airways and Spain’s Iberia, spurred by demand for business travel on BA’s North Atlantic routes.

Airline Flybe reported soaring profits today but said it will reduce capacity by 6% over the winter amid falling demand.

BRITISH Airways said it will break even this year, rebounding from a record loss, if demand for business trips continues to gain and chief executive Willie Walsh wins his 15-month tussle over cabin-crew expenses.

LONG-haul passenger numbers at Aer Lingus continued to plunge last month, while British Airways was preparing to cut thousands of jobs.