Adds background, element LONDON, Nov 5 (Reuters) - Hungary-
Adds background, element
LONDON, Nov 5 (Reuters) – Hungary-based airline Wizz Air WIZZ.L mentioned it was anticipating a journey restoration in spring however earlier than then winter could be powerful, after the pandemic pushed it to a loss within the six months to the tip of September.
Wizz Air, which lately has expanded from japanese into western Europe, has thus far withstood the pandemic higher than some bigger airways, persevering with so as to add new routes, buoyed by its sturdy money place and versatile enterprise mannequin.
For the six months to Sept. 30, Wizz posted an underlying web lack of 145 million euros, on passenger numbers which plunged 71% on account of coronavirus journey restrictions.
The airline mentioned it had 1.6 billion euros in money, that means it may survive for 2 years even when it didn’t fly. Chief Govt Jozsef Varadi mentioned that there have been no plans to floor the fleet regardless of new lockdowns throughout Europe.
Whereas the subsequent 4 to 5 months could be difficult, Varadi mentioned he noticed gentle on the finish of the tunnel from spring when the second wave of the virus eases.
He mentioned he anticipated Wizz to fly 30% to 50% of final 12 months’s capability over the winter interval.
(Reporting by Sarah Younger, Enhancing by Paul Sandle)
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