Discount airline Wizz Air CEO József Váradi said that sudden changes to COVID-19 quarantine regulations in Europe will have a "rollercoaster effect" on airlines and economic recovery, according to a report by U.S. consumer news and business website cnbc.com.
Váradi appeared on CNBCʼs "Squawk Box Europe" program yesterday, talking about the effects of coronavirus on the aviation industry.
"We are standing still very well against any kind of shocks which could affect the industry going forward," he said regarding Wizz Airʼs financial stability. "If we get grounded completely and we cannot perform a single flight, we would still be in business in two years, so thatʼs how strong we are with regard to liquidity."
The report on CNBCʼs website notes that the U.K. government surprised a number of British tourists by introducing a mandatory self-isolation for 14 days. The U.K. argued that the decision was made in the light of the resurgence of coronavirus cases in Spain.
The Spanish government came out against the decision, claiming that the country was still safe for tourists in spite of regional outbreaks.
"Spain will improve again but some other markets might come under scrutiny," Váradi said, arguing that airlines will have to cope with the uncertainty.
"We used to be debating the recovery of the pandemic is ʼVʼ shape or ʼUʼ shape… I think we should expect a rollercoaster effect," he noted.