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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

Updated 12 mins ago - Politics & Policy

Inauguration Day dashboard

U.S. Capitol and stage are lit at sunrise ahead of the inauguration of Joe Biden. Photo: Patrick Semansky - Pool/Getty Images

President Biden has delivered his inaugural address at the Capitol, calling for an end to the politics as total war but warning that "we have far to go" to heal the country.

What's next: Biden has arrived at the White House and he will sign executive orders and other presidential actions.

40 mins ago - Podcasts

Podcast: After the Biden inaugural

Joe Biden was sworn in today as America's 46th president in an inauguration unlike any other in modern history.

Axios Re:Cap goes deeper into the speech, the atmosphere and what it all tells us about the incoming administration, with Axios political reporters Hans Nichols and Alexi McCammond.

Biden embarks on a consequential presidency

Photo illustration: Sarah Grillo/Axios. Photo: Joe Raedle/Getty Images

Donald Trump tried everything to delegitimize the rival who vanquished him. In reality, he's set Joe Biden on course to be a far more consequential U.S. president than he might otherwise have become.

The big picture: President Biden now confronts not just a pandemic, but massive political divisions and an assault on truth — and the aftermath of the assault on the Capitol two weeks ago that threatened democracy itself.