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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