Wizz Air Cuts Passenger Forecast
Hungarian low-cost carrier Wizz Air expects to fly at roughly 60% of capacity in the second quarter of 2020, down from earlier projected levels as renewed travel restrictions in Europe and Hungary hit passenger numbers.
Wizz said that if restrictions across the network continue, rates are likely to remain at approximately 60% in the third quarter, down from the 80% it had earlier expected.
"Further capacity reductions remain a possibility and as a result, Wizz Air may park parts of its fleet throughout the winter season to protect its cash balance," the company said.
In August, the airline, which has expanded from eastern into western Europe in recent years and been one of the fastest to recover from the COVID-19 crisis, was flying at 80% of last year's capacity.
It said last month that 80% of capacity was as high as it could go under current circumstances, and that capacity might fall again.
The carrier said on Tuesday September 1 that it is still confident that it will emerge as a "structural winner" from the COVID-19 crisis, adding that its ultra-low cost business model is a significant competitive advantage in the current uncertain environment for airlines.
Hungary Travel Restrictions
Last week, Hungary said that it would close its borders to foreigners from September 1 to curb a rise in coronavirus cases, but later decided to let tourists from Poland, the Czech Republic and Slovakia enter the country with a fresh negative coronavirus test.