Wizz Air chief sells down
Wizz Air CE József Váradi has banked GBP2.8m after an associated legal entity, Vaxco Holdings, disposed of 75,000 shares last week. The Hungarian airline’s disclosure of the disposal preceded news that it had operated at 80% capacity in August. Wizz warned, however, that it expects this to drop to 60% for its second financial quarter, as travel restrictions return in Europe amid a spike in coronavirus cases in some countries. The IATA has lambasted government measures to restrict border access and impose quarantines. “Too many governments are fighting a global pandemic in isolation with a view that closing borders is the only solution,” said IATA DG and CE Alexandre de Juniac. Capacity may remain at about 60% for Wizz’s Q3 if current travel restrictions persist, the airline observed, which is lower than the 80% level it previously expected. Wizz’s August load factor, which shows the percentage of available seating that is occupied by passengers, sat at 71%, which was just shy of Ryanair’s August level of 73%. The airline cautioned that capacity may come down even further and that it may ground part of its fleet as winter sets in as it bids to protect its cash levels. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-09-07/unaligned/wizz-air-chief-sells-down
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Wizz Air chief sells down
Wizz Air CE József Váradi has banked GBP2.8m after an associated legal entity, Vaxco Holdings, disposed of 75,000 shares last week. The Hungarian airline’s disclosure of the disposal preceded news that it had operated at 80% capacity in August. Wizz warned, however, that it expects this to drop to 60% for its second financial quarter, as travel restrictions return in Europe amid a spike in coronavirus cases in some countries. The IATA has lambasted government measures to restrict border access and impose quarantines. “Too many governments are fighting a global pandemic in isolation with a view that closing borders is the only solution,” said IATA DG and CE Alexandre de Juniac. Capacity may remain at about 60% for Wizz’s Q3 if current travel restrictions persist, the airline observed, which is lower than the 80% level it previously expected. Wizz’s August load factor, which shows the percentage of available seating that is occupied by passengers, sat at 71%, which was just shy of Ryanair’s August level of 73%. The airline cautioned that capacity may come down even further and that it may ground part of its fleet as winter sets in as it bids to protect its cash levels. <br/>
