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.
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