The main effect of fluid inertia on the macroscopic behaviour of the system is due to the Bernoulli effect, which induces an additional pressure drop when the tube buckles and its cross-sectional area is reduced. Thus, the tube collapses more strongly than it would in the absence of fluid inertia. Typical tube shapes and flow fields are presented. In strongly collapsed tubes, at finite values of the Reynolds number, two ``jets'' develop downstream of the region of strongest collapse and persist for considerable axial distances. For sufficiently high values of the Reynolds number, these ``jets'' impact upon the sidewalls and spread azimuthally. The consequent azimuthal transport of momentum dramatically changes the axial velocity profiles, which become approximately ``Theta''-shaped when the flow enters the rigid downstream pipe. Further convection of momentum from the centreline to the edges of the tube causes the development of a ring-shaped velocity profile before the ultimate return to the parabolic profile far downstream.