Virgin Australia grounds all international flights as coronavirus takes airlines to brink

With global travel in lockdown, the airline Virgin Australia will suspend all international flights and halve its domestic services. 

The drastic action comes as Virgin joins others in the aviation industry struggling to survive as the coronavirus pandemic begins to freeze the global economy. 

S&P Global Ratings predicts that world will be unable to avoid a recession with the US and Europe facing a deep downturn. 

ABC's Peter Ryan analyses the developments for The World Today.