25 Sep 2020
Wizz Air announced on Friday that it will run at 50% of capacity in October after a significant drop in bookings due to coronavirus quarantine rules.
The low-cost carrier said its services will be running at half the normal level next month and would likely remain at the same level throughout the winter if nothing changes - meaning no increase for the key Christmas holiday period.
Wizz Air had previously said it expected to run at 60% capacity in the second quarter after downgrading its forecasts from 80%.
In a statement today the airline noted: “The company has strongly improved its strategic position and its ability to respond to opportunities in its markets during the past six months,” it added.
Shares were down just over 1.4% on the news in trading on Friday morning.
Despite the travel sector’s Covid-related troubles, Wizz has also repeated its claims that it would emerge from the crisis as a “structural winner” due to its strong balance sheet and healthy liquidity position.
Other airlines including Ryanair, easyJet and British Airways owner IAG have all cut capacity as they respond to the crisis.
Wizz Air is a Hungarian ultra-low-cost airline based in Budapest and first took to the skies in 2004.
The firm opened its first base in the UK at Luton - so it based aircraft and cabin crew there rather than just operating flights there - and quickly became Luton Airport’s largest airline in 2018, after knocking easyJet off the top spot.