When individuals move together in large groups, as seen in schools of fish, they adapt their speed and direction to that of their neighbours. We present and analyse a model for the speed adaptation process in the case in which all individuals move in the same or in two opposite directions. The model consists of a hyperbolic conservation law for the density of individuals coupled to a parabolic or elliptic equation for speed. A detailed linear analysis reveals several mechanisms for the appearance of instabilities of the homogeneous steady state, which trigger the formation of schools, herds, flocks, etc. Long-term existence of weak solutions is shown using the vanishing viscosity approach.