31 JANUARY 2022


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Article from BTNews 31 JANUARY 2022

Wizz forecast

Low-cost carrier Wizz Air, Hungarian based, but listed on the London Stock Exchange, warned its fourth-quarter loss would likely top the €213.6m ($241.2m) third-quarter figure.

The Budapest headquartered airline said the emergence of the Omicron coronavirus variant had hit sales in the latter part of its fiscal third quarter, and it expected to be impacted by ongoing travel uncertainty in January, February and part of March.

All European airlines have been on a rollercoaster ride over the last year as governments dropped, and then sometimes reimposed, restrictions that increased both the cost and hassle of travel in a bid to contain waves of the pandemic.

CEO Jozsef Varadi told Reuters that Wizz Air had cut costs and acquired new landing slots, meaning it was in a stronger position to compete with Ryanair and easyJet once the long-expected recovery comes.

The Wizz model is different than most of its rivals with single daily flights and not frequency, little or no advertising, and engineering sub-contracted, hence with a much lower payroll.


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