Business travel

Wizz Air will reduce its summer capacity

Fast-growing low-cost airline Wizz Air has become the latest European carrier to cut its summer schedule to avoid further cancellations.

The Hungary-based airline said it was reducing its summer capacity previously scheduled for the high season by 5% to “reduce the impact of ongoing external disruptions”.

Wizz, which has already exceeded its pre-Covid seating capacity, said it will increase further this summer by around 35% compared to the same period in 2019.

“To be able to avoid cancellations and guarantee a more punctual operation for our customers, we have further improved the agility and resilience of our network, in particular by adjusting the schedules where we have seen a higher occurrence of problems, for example: slot allocation issues, rotation-around schedules,” the airline said in a commercial statement.

This latest capacity reduction is part of a trend for European airlines to reduce their scheduled times: British Airways cut 10,300 more flights from its summer schedule last week, while Dutch carrier KLM plans to cancel 10 to 20 flights to European destinations each day until August 28 due to staff shortages.

Wizz said he saw net fares rise 6% in June from pre-Covid levels as the airline tried to “transfer higher input costs” by raising fares. The airline added that fuel costs had increased by 94% compared to comparable costs in 2019.

The airline said it recorded an operating loss of 285 million euros for the quarter from April to June. Wizz added that its liquidity “remains strong” with around 1.6 billion euros in cash at the end of June.

Wizz said it expected to make a “significant” operating profit in the current quarter through the end of September as it benefited from higher revenues and prices. He added that load factors had reached over 90% in July.