Video: Wizz Air CEO Expects Rollercoaster Impact From Coronavirus

  • 4 Aug 2020 11:10 AM
  • Budapest Business Journal
Video: Wizz Air CEO Expects Rollercoaster Impact From Coronavirus
Discount airline CEO József Váradi said that sudden changes to COVID-19 quarantine regulations in Europe will have a "rollercoaster effect" on airlines and economic recovery.

Váradi appeared on TV talking about the effects of coronavirus on the aviation industry.

"We are standing still very well against any kind of shocks which could affect the industry going forward," he said regarding Wizz Airʼs financial stability.

"If we get grounded completely and we cannot perform a single flight, we would still be in business in two years, so thatʼs how strong we are with regard to liquidity."

The report on CNBCʼs website notes that the U.K. government surprised a number of British tourists by introducing a mandatory self-isolation for 14 days. The U.K. argued that the decision was made in the light of the resurgence of coronavirus cases in Spain.

The Spanish government came out against the decision, claiming that the country was still safe for tourists in spite of regional outbreaks.

"Spain will improve again but some other markets might come under scrutiny," Váradi said, arguing that airlines will have to cope with the uncertainty.

"We used to be debating the recovery of the pandemic is ʼVʼ shape or ʼUʼ shape… I think we should expect a rollercoaster effect," he noted.


MTI Photo: Zsolt Czeglédi

  • How does this content make you feel?

XpatLoop Media Partner

Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

Explore More Reports

  • Wizz Air Reports EUR 116 Million Loss In Q4

    Wizz Air Reports EUR 116 Million Loss In Q4

    • 29 Jan 2021 7:30 AM

    Wizz Air suffered a €116 million net loss in the fourth quarter of 2020, after a €21 million profit one year earlier, the low-cost airline announced on Thursday.

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

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

    • 15 Dec 2020 9:43 AM

    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.