Wizz Air Says Flight Delays Are Easing Off After Schedule Cuts - BLOOMBERG
JULY 27, 2022
(Bloomberg) -- Wizz Air Holdings Plc said moves to reduce summer capacity amid an industry-wide aviation staffing squeeze are beginning to have an impact, with a reduction in delays in the summer schedule.
Disruption levels are starting to normalize after the adjustments, Europe’s third-biggest discount carrier said in an earnings statement Wednesday.
Budapest-based Wizz still aims to increase summer capacity by around 30% compared with 2019 and said it expects to deliver “a material operating profit” as revenue and pricing momentum continues to improve.
Wizz said this month it would trim planned capacity by 5% over the peak summer period to combat delays and cancellations resulting from employee shortages that are plaguing the European travel industry. That’s less than at some other airlines flying out of larger airports where the squeeze on operations has been more severe.
The carrier, which is listed in London, reiterated that it had an operating loss of 285 million euros ($289 million) in the fiscal first quarter through June amid amid reduced flying, costs from timetable disruption and foreign exchange losses, and a net loss of 453 million euros.
Discount rival EasyJet Plc on Tuesday booked a charge of £133 million for the June quarter amid travel disruption driven by staff shortages and capacity caps.