Airlines could absorb losses totaling $113 billion because of business travel cancellations due to the coronavirus outbreak, the International Air Transport Association, a trade association for the world’s airlines, projected Thursday. In February, the group projected that losses would only total $29 billion.

Losses were originally expected to be confined to markets associated with China. Since then, the virus has spread to more than 80 countries, and forward bookings have been severely impacted on routes beyond China.