Photo: Daniel Berehulak/Getty Images

British Airways announced Monday it was canceling 12 flights from London's Heathrow to New York’s JFK airport to match low demand caused by the coronavirus outbreak.

Why it matters: It's the only route in the world that rakes in more than $1 billion in revenue per year, topping the rankings of highest-earning flights by nearly $300 million more than its closest rival, according to travel firm OAG.

What they're saying: "We will be contacting customers on cancelled flights so we can discuss their travel options, including rebooking onto other carriers where possible, full refunds or booking with BA for a later date of travel," the airlines said in a statement.

The big picture: The airline has canceled several other flights to Italy, France, Germany and other countries in Europe from London's airports. Routes to China, Singapore and South Korea have also already been paused due to the outbreak.

Go deeper: United Airlines to pause flights to Japan due to coronavirus

Go deeper

Jun 9, 2020 - Health

Social distancing may have prevented almost 5 million confirmed U.S. coronavirus cases

Photo: David Dee Delgado/Getty Images

The U.S. would have seen 4.8 million more confirmed coronavirus cases — and 60 million more total infections — without social distancing, according to a new study published in Nature.

Why it matters: When evaluating the cost of social distancing to the U.S. economy and society writ large, this is the number of cases to measure it against — not the actual number, which reflects the health benefits of the measures.

Updated Jul 10, 2020 - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

Hong Kong's secondary schools, primary schools and kindergartens will close on Monday, education secretary Kevin Yeung announced Friday.

What's happening: Hong Kong reported 147 new coronavirus infections over the past week, the Financial Times reports. 88 of those infections were reportedly locally transmitted.

SoftBank-backed insurer Lemonade files for IPO

Illustration: Sarah Grillo/Axios

Lemonade, a mobile-first digital insurer for homeowners and renters, filed Monday for an IPO.

The big picture: The IPO market is on fire, despite global business slowdowns due to the coronavirus pandemic.