Hungarian low-cost carrier Wizz Air has grounded around 85 percent of its fleet due to travel restrictions introduced by governments to contain the spread of novel coronavirus, the airline said on Monday.
“The company continues to operate 15 percent of its capacity and remains operational in Romania, Hungary and Bulgaria, but the grounding of the entire fleet remains a distinct possibility over the next period, as potential additional travel restrictions and social distancing policies issued by authorities may make international flying for commercial purposes either untenable or impossible,” Wizz Air said in an update for investors.
“Given the significant balance sheet strength and liquidity, as well as the company’s ultra-low cost business model, Wizz Air is confident in its ability to survive even a potential prolonged grounding substantially beyond the current estimates for the impact of COVID-19 in Europe,” it added.
Featured photo via Wizz Air’s Facebook page