The US administration is set to unveil a recovery package aimed at limiting the effect of last week's terror attacks on business. As business and consumer confidence slumps, the White House has indicated it will offer targeted assistance to sectors hit hard by recent events.

At home, British Airways is set to announce job losses as the events in New York and Washington hit the domestic and international air traffic market.

The announcement comes as pressure mounts on the EU to relax competition rules in a bid to give a much-needed boost to European airlines.