We start with the struggling uk airline flybe. It has gone into administration, leaving flights cancelled and passengers around europe stranded. The airline was trying to secure a bailout loan from the uk government but its efforts to survive have been complicated by a slump in air travel because of the coronavirus outbreak. Flybe called itself europes largest Regional Airline, serving 56 airports and carrying 8 million passengers a year. It employs 2,000 people, whose jobs are now in doubt. Heres our business editor, simonjack. 0ur correspondent was in exeter as the news of the collapse of the merging. Touching down in exeter, one of the last flights of the day for flybe. These are not passengers with luggage but mechanics taking tools home from the Company Headquarters at the end of the runway. They had come in especially to collect their kit, even before any official announcement. We are not allowed to tell you anything. Have you been told anything . No. It has been an anxious four weeks with staff, arriving desperate for news. dont know anything. Have you been given any indication . Nine, sorry guys. Questions also for flybe passengers arriving into exeter, and they told us the Company Provides vital roots and is an important pa rt vital roots and is an important part of the regions economy and beyond green not great but handy having it here. beyond green not great but handy having it here. I work in greenwich and it cuts 2. 5 hours of travelling rather than going on the train. It will be detrimental to the whole of the south west, we cannot go from plymouth so we drive to exeter, yeah, next up is bristol. Meanwhile, as more staff turn out to find out whats happening, and delivery of pizzas, a long night ahead after a difficult journey pizzas, a long night ahead after a difficultjourney for flybe. John strickland is an aviation analyst. Good to see you. Really sad news that flybe has collapsed, despite everyones efforts but not a surprise would you say . Always said news, particularly for employees of the airline but as you say, not a surprise. You could say it has been a long time coming. Flybe is primarily a Regional Airline, flying smaller roots and they are the most challenging to make them work profitably and that in a nutshell is the problem. Should the uk government come to its rescue . There were various ideas mooted. Not going to happen now, and even when it was mooted it suited the government s policy when they talked about levelling the uk and this Regional Airline flying in some Regional Airline flying in some regional markets but that created an understandable backlash from many other airlines is that it is not fair, nota airlines is that it is not fair, not a level Playing Field and if they do it for flybe they have to do it for all of us they have to do it for all of us and it has not happened, it has melted away in the last couple of weeks. And the loss is questionable, and it is only putting off the inevitable. Where did flybe go wrong . It expanded considerably and bought a brand new fleet and didnt overstretch itself . That was the richer the problem. Several years back and several management to go, they went in for massive order of different aircraft types and that was substantially indigestible, beyond the reality of what could be delivered and ever since then, future managements have tried to reduce the scale of operations. If it survived, it would have done so in a smallerform. Some routes will never be profitable and may be picked up by other airlines and they need to be a smaller airline. For passengers stranded on european holiday, for those going to the airport today to fly, what is the advice . The advice is dont go to the airport, they will not be any flybe services. Fortu nately, be any flybe services. Fortunately, in the round, there are fewer people abroad because flybe is not a big operator outside the uk and i think other airlines are stepping and fill the gap in some but not all. When it comes to the ritz, do you think other Companies Like ryanair and easyj et Companies Like ryanair and easyjet will snap up some of the ritz . You say many were unprofitable but they were extremely popular out of southhampton, for example. The Larger Airlines like ryanair and easyjet, they had bigger aircraft which cannot make it work but if they had less plays around ina work but if they had less plays around in a smaller capacity brackets. Someplace was stepping and a few look like they are well advanced with some plans but southhampton airport for viewers who do not know, it is important catchment area but it has quite a short ru nway area but it has quite a short runway which prohibits the bigger aircraft getting in and out and has limitations and it isa out and has limitations and it is a challenge because flybe accounted for 95 of passengers from that airport. Thank you indeed. As i mentioned, i have tweeted the advice or passengers. Those who may be stranded and watching right now, do have a look at bbc online, lots of advice in terms of what your rights are and where you stand. Lets stay with the coronavirus. Its hitting every area of business, including entertainment. On wednesday, the producers of the newjames bond movie announced the launch of the film is being shelved until later in the year. Samira hussain in new york has more. Daniel craig s final appearance as the secret Service Agent james bond appearance as the secret Service Agentjames bond was due to hit screens in april but the release date has been pushed back seven months so fa ns pushed back seven months so fans of 007 will have to wait until november to see no time to die. The producers say they delayed the movie release after careful consideration and thorough evaluation of the global theatrical marketplace. This is the first major film to change it schedule as concerns mount about people gathering together in the wake of the coronavirus. The last James Bond Film took in almost 900 million at Worldwide Box Office and some film analysts have suggested that the coronavirus could wipe 5 billion off Global Box Office with many of china s cinema is already close and revenues hit in south korea and italy. Lets go to our Asia Business hub, talk through what is happening in the industry, it is being impacted quite a bit now . Indeed, she talked about the impact on the Film Industry and in china as well and we knew things were going to be tough but according to Box Office Data company, chinas Box Office Receipts fell to just over 200 million in the month of january and february. Over 200 million in the month ofjanuary and february. That isa ofjanuary and february. That is a fall of 1. 9 billion stock from the same period a year ago, remember, china is the world s second biggest film market after the United States, with an annual revenue of more than 9 billion. Last year, it was expected to overtake the United States as the biggest as early as this year but with the coronavirus outbreak, not many experts expecting cinemas to reopen in china in march and interestingly, it meant a huge boom in streaming services. Some movies actually skip to cinemas altogether and were launched online straightaway. So, very tough times for the Film Industry, especially in china. Thank you very. Now lets brief you on some other business stories the head of the International Monetary fund has warned that the spread of the coronavirus will mean Global Economic growth will be even weaker this year than last year. 2019s trade wars meant the slowest growth in the World Economy since the financial crisis a decade earlier. The imf is also making 50 billion available to poorer countries struggling to respond to the epidemic. Britain will miss its goal of net zero carbon by 2050 unless it finds a way to finance Nuclear Power stations. Thats according to a confidential letter written to the chancellor by the nuclear industry, which has been seen by the bbc. Britains nucler plants provide about 20 of uk electricity. All but one will be retired by the end of the decade. Lego plans to open 150 branded shops around the world in 2020, having opened the same amount last year. Thats despite tough Market Conditions for the toy industry which, it says, shrank 3 in 2019. Legos chief executive, niels christiansen, told the bbc that he wanted people to get their hands on bricks and be a part of the brand. These are the financial markets, they are so volatile, up and down but generally speaking, they are all headed higher. The dowjones is up 4 on wednesday as the imf, the us federal government and others pledged money to help with coronavirus. Thats it for the Business Briefing this hour. The duke of cambridge has called on the uk and ireland to work to maintain the bonds of friendship post brexit, saying the royal family would play its part. Speaking in dublin, Prince William said the progress the two countries had made together should never be taken for granted. 0ur royal correspondent jonny dymond was there. We should warn you that this report contains flashing images i dublin s museum of literature, the jet came to reassurance about the future for britain and ireland. He gave thanks to the peacemakers of the past and said whatever happened with brexit, the two countries would work together. Iam countries would work together. I am confident that friendship, understanding and a shared vision for a peaceful and prosperous future will ensure that the unique and precious bond between our people is not broken. My family is determined to continue playing our part in protecting, preserving and strengthening that bond. Earlier, the couple had been at a research centre, talking sustainable agriculture. And there was a chance to admire irelands stunning scenery with britain just irelands stunning scenery with britainjust 50 miles irelands stunning scenery with britain just 50 miles away, a reminder ofjust how close we. This has been a pretty low key trip. There may be a chance for the couple to get out and about a bit later today but last night, william s message was clear, bitterness is for the past and in the future, lets be friends. For that story and more, breakfast is coming up at six oclock with sally nugent and charlie stayt. Theyll have all the days news, business and sport plus more on the collapse of flybe. Theyll be at Birmingham Airport and outside the headquarters of the company in exeter for the latest. This is the briefing from bbc news. The latest headlines europes biggest Regional Airline goes bust troubled flybe says coronavirus was the final straw. Californias governor declares a state of emergency over the virus after reporting the states first death and confirming at least 50 cases. That stories dominating headlines in the media across the world. Daily telegraph is showing how the coronavirus is spreading across the uk, and in hospitals after nhs were among 36 identified in a trebling of new cases in a day. The countries chief medical officer is now there is a significant epidemic is now highly likely. Meanwhile, if we look at the front page of our revenues, saudi arabia has suspended all pilgrimages as it reported its second case of viruses. The kingdom has also banned overseas pilgrimages visiting the grand mosque. In the mail, flybe is on the verge of colla pse flybe is on the verge of collapse and has done so now. Flights cancelled. In the daily mail, it talks about how it wrecks the plans of many travellers, and how staff are facing an uncertain future. The airline industry, it says, is internal while as other airlines talks about plunging demand because of the coronavirus. Financial times, says long Term Economic prospects are expected to be downgraded in the event of the budget which is on march 11. Because of the impact of Boris Johnson s post brexit crackdown on eu immigration. Finally, the metro says the doctor says no, that is the headline on the front page of the metro, looking at the delayed release of the latest james bond movie, which is called no time to die. Many are pointing out the irony of the title of that film. So lets begin with rebecca harding, whos ceo and founder of coriolis tech. This has been the case every day this week and last week, it is all about coronavirus to a great degree. The Daily Telegraph focusing on the uk, numbers going up and up by the day but this article is looking at the concern that actually in Kings College hospital there are two new patients that were ona ward
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