Wizz Air Holdings Plc (LON:WIZZ), the fastest-growing European airline, has provided an operational update in light of ongoing travel restrictions as a result of the COVID-19 pandemic and the subsequent drop in demand for travel during the winter period.
In October, the company now expects to operate 50% of capacity compared to last year. Furthermore, should the level of restrictions remain at the current level, it anticipates not to operate at a higher level of capacity during winter than its projection for October.
The protection of its solid balance sheet and excellent liquidity position as well as minimising cost across all areas of the business remain Wizz Air’s top priority. The Company has strongly improved its strategic position and its ability to respond to opportunities in its markets during the past six months.
While conditions continue to be challenging, the relentless focus on creating a competitive advantage and strong liquidity will allow Wizz Air to emerge from this crisis as a structural winner.