Aviation industry was one of the most affected sectors of the economy, so the business of the companies was directly affected by the progress of the pandemic and the restrictions imposed by various countries in the world.
“2020 was a challenging year for aviation industry, indeed. The crisis caught Wizz Air in a very stable financial state, with more than EUR1.5 billion cash,” Wizz Air officials say.
The robust business model – ULCC (ultra low cost carrier), the strict cost control, agility and quick decision making helped the airline adjust to the new circumstances rather fast. The 2021 is a transition year and the airline does not expect traffic to revert to pre-pandemic levels, the officials added.
(English version by Loredana Fratila-Cristescu)