The still-spreading coronavirus outbreak could cost the world's airlines as much as $113 billion in lost revenue. That updated projection was released Thursday by the International Air Transport Association.
The new figure is four times the previous number released by the same group just two weeks ago.
Closer to home, Dallas-based Southwest Airlines said its first-quarter revenue could be down by as much as $300 million because of coronavirus.
Some carriers in the U.S. are starting to whittle back their flight schedules. United and JetBlue have already announced cuts, including reductions in their domestic schedules.
KRLD's Chris Sommer talked about the critical situation for the airlines with CBS News Travel and Transportation Editor Peter Greenberg.