Wizz Air could restore normal services from July

Transport

press

Wizz Air expects the situation in April to be similar to the one in March and which flights get canceled could change day by day but normal services could be restored by July, CEO József Váradi told MTI on Friday.

Hungarian low-fare airline Wizz Air is operating 20% fewer flights than scheduled and out of its 121 planes, 10 are grounded. No employees have been laid off, but some staff have been placed on leave.

From the start of February till the end of March Wizz Air could suffer a net EUR 40 million loss. Revenue loss is higher but with fewer flights, costs have also been reduced. The company still has EUR 1.5 billion free cash and its financial position is stable, Váradi added.

The CEO said the present situation offers opportunities to carriers with good liquidity. Wizz Air has already entered into talks with Airbus to bring forward aircraft deliveries and the carrier will be on the lookout for acquisition opportunities.

Moody's Affirms Budapest's 'Baa3' Rating Ratings

Moody's Affirms Budapest's 'Baa3' Rating

Bulgaria's Household Income, Spending Rise 20% in 2023 World

Bulgaria's Household Income, Spending Rise 20% in 2023

Job Fair and Career Prep at Corvinus Starts Tomorrow HR

Job Fair and Career Prep at Corvinus Starts Tomorrow

Spago Budapest Offering Unique Sunday Brunch Experience Food

Spago Budapest Offering Unique Sunday Brunch Experience

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.