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Hungary’s Wizz Air To Cope Without State Help, CEO Says

• 15 Dec 2020 9:43 AM
• Hungary Around the Clock

Wizz Air operates with the lowest costs of any airline in Europe, giving it a massive competitive advantage in the current pandemic situation when airlines are burning cash fast, founder and CEO of the Hungarian airline József Váradi told Portfolio.

Wizz Air has liquidity reserves and will not need state help, he added in a video interview.

“We don’t see what we are up against”, he said when asked about potential bankruptcies in the industry. “The worst is yet to come”, he added.

Váradi argued that companies relying on state help will be in trouble again without restructuring and shifting to a more competitive business model.

The only two airlines with adequate liquidity, who can emerge as winners from the crisis are Wizz Air and Ryanair, he said.


MTI Photo: Zsolt Czeglédi

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Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

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