Popular low-cost carrier will cut staff and reduce salaries

Hungarian budget airline Wizz Air to mitigate the financial impact of the pandemic in the fashion industry has taken a number of measures concerning the staff of the company and salaries of employees.

Популярный лоукостер сократит персонал и снизит зарплаты

As reported the press service of low-cost Tuesday, in particular, decided to reduce 1 thousand employees, accounting for 19% of the total number of staff, reports Interfax-Ukraine.

In addition, Wizz Air announced the intention in the new financial year to reduce the remuneration of the General Director, members of the Board of Directors and all the senior managers by 22%, and salaries of pilots, flight attendants and office staff by 14% on average.

Wizz Air said that in March 2020 the volume of traffic low fire decreased by 34%. Currently the company operates only 3% of its performance, which was to COVID-19.

According to forecasts the air carrier Wizz Air’s profit for fiscal year 2020 will be at the level of EUR270-280 million, below the previously forecasted at EUR70-80 million

Wizz Air, the largest low-cost carrier in Central and Eastern Europe, offers flights on more than 600 routes with 25 bases, connecting to 145 destinations in 44 countries. The fleet consists of 120 Airbus A320 and Airbus A321.

Wizz Air shares listed on the London stock exchange and included in FTSE 250 and FTSE All-Share Indices.