Wizz Air stated that although the Covid-19 pandemic has restricted the entire region, the number of passengers in August is expected to return to pre-pandemic levels due to the steady increase in bookings for summer vacation Europe.
Despite a loss of 114 million euros (97 million pounds) between April and June, in an optimistic statement issued to the London Stock Exchange on Wednesday, the budget airline stated that it expects to increase in July and August respectively. Before the epidemic, 90% and 100% of the capacity were operated.
Airlines are one of the slowest companies to recover from the pandemic. Cross-border movement restrictions Despite progress in the vaccination plan, travel is still prevented. However, as the number of tourists has steadily increased, consumers who are accustomed to foreign holidays also have pent-up demand.
Other large European airlines have also expanded their holiday flight schedules.British Airways EasyJet said last week that it will operate 60% Capacity before Covid-19, and Ryanair said this week Expected to transport 100 million passengers this fiscal year By the end of March 2022. During the worst of the pandemic, Ryanair carried only 27.5 million passengers in the year to the end of March 2021, down from nearly 150 million passengers a year ago.
Wizz stated that it is expected to be the first major European airline to restore capacity to pre-coronavirus levels. The airline carried 2.9 million passengers in the three months to the end of June, four times the number in 2020 when the UK and European restrictions were the most restrictive.
The company headquartered in Hungary but listed in London said that as the pandemic became clear, after layoffs of 1,000 workers and cut wages in April 2020, it has recruited 600 new crew members because it added jobs schedule.
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József Váradi, CEO of Wizz Air, said: “Due to the unpredictable government decisions, we remain cautious about winter forecasts.”
He stated that the April-June quarter was “still full of challenges,” operating at only one-third of the capacity, which rose to 62% in June.The loss is its Losing money for the sixth consecutive quarter Although revenue doubled year-on-year.
“Throughout the quarter, we did see an encouraging pattern of recovery in passenger air travel,” Varadi said. “Although movement restrictions still affect travel, people are beginning to return to flying.”
He added that the company is in a “much improved competitive position” compared to its competitors because it has purchased more aircraft, increased routes, and has less debt than many other companies.
Wizz Air’s share price rose by 6.2% on Wednesday morning to £49.46. The low-cost airline is valued at more than £5 billion. The stock surpassed its pre-pandemic peak in November.
