While Swissair was rescued but £188 million in emergency public funding yesterday, the Belgian airline Sabena filed for protection from creditors to prevent bankruptcy.

KLM is also expected to announce more job cuts today. British Airways lost nearly £100 million last month, raising fears that more job losses could be in the pipeline. British Midland is cutting 600 jobs and Virgin Atlantic is axing 1200.

BAA said the number of people flying from Heathrow was down by 20 per cent. GMB boss John Edmonds said employers should "hold their nerve" - while TGWU leader Bill Morris accused some companies of using the events in the US as "an excuse to get rid of people".