Up to 500 jobs will be cut at Aer Lingus due to the COVID-19 crisis.

The airline said in a statement that the pandemic's impact on the aviation industry had been "catastrophic" and that it was operating less than 5% of its normal schedule.

Ian Guider brought us this story and more in our daily business update, including:

• Digicel awarded almost €250 million by French court
• Ireland to push for bigger share of EU COVID-19 recovery fund
• Carnival is selling six cruise ships after $4.4 billion loss