Wizz Air confirms it will hibernate during the winter on bleak outlook for flying

The share price of Wizz Air dipped by 2 percent after it confirmed a bleak outlook for the winter period.

In an update today, the low-cost airline revealed that it expects operational capacity of 50% compared to the same period last year for the month of October.

Should restrictions remain in place to curb the pandemic, Wizz Air believes that it will not go above 50% of capacity for the remainder of the year.

It further moved to reassure investors that it has enough cash to keep on going, despite the difficult times in the operational update released today:

“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.”

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