Once-Bullish Wizz Air CEO Says His Optimism for Summer Is Fading
This content was published on April 16, 2021 - 04:00
April 16, 2021 - 04:00
(Bloomberg) Wizz Air Holdings Plc Chief Executive Officer Jozsef Varadi said he’s no longer counting on a rebound in European travel this summer as travel restrictions persist and vaccine rollouts stutter.
Uncertainty over the easing of curbs make it impossible to predict levels of demand in three or four months, and whether an envisaged increase in capacity to between 70% and 80% of pre-pandemic levels is justified, Varadi said in an interview Thursday.
“We need to reconcile these numbers with reality,” he said. “It might be possible to operate within these ranges, but we can’t guarantee it. It’s not a matter of capacity planning but governments imposing restrictions.”
Wizz Air Hits Wall in Bid for Gatwick Growth
Bloomberg 2/3/2021 Christopher Jasper and Siddharth Philip
(Bloomberg) Wizz Air Holdings Plc has a chance to become a force across Europe, using its low-cost structure and financial clout to capture a bigger share of the market when the coronavirus finally lets up.
The Hungarian discount carrier has snapped up airport capacity in Italy, Germany, Norway and the U.K. during the pandemic, but the westward push has been slowed by measures meant to stabilize an industry hard hit by the outbreak.
Authorities in the U.K. and the European Union have extended a waiver of rules that force airlines to relinquish unused takeoff and landing slots shielding them from rivals targeting expansion at hubs like London Gatwick. Wizz Chief Executive Officer Jozsef Varadi argues that the measures are protectionist, and that airports starved for fees would welcome fresh tenants.