WizzAir, the next low cost airline failure?
It seems that East European low cost airlines are now going through very hard times. After SkyEurope’s bankruptcy last and that of Seagle Air in Slovakia, is it now Wizz Air’s turn to go down?
Indeed, according to The Budapest Business Journal, “the low-cost Budapest-based airline company WizzAir recorded group-level losses of 9.5m in the business year ended in March 2009”.
A remake of SkyEurope?
Accordig to the online paper Napi Gazdaság, the company never managed to turn a profits in its five years of operation, and has now accumulated losses of €78 million.
The article adds that “at the same time, WizzAir had spectacularly increased the number of its passengers.” I think this is not a very good indicator to properly evaluate Wizzair situation. In fact, SkyEurope had also increased its passenger traffic several months before the end…
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Hi, Czechs do not have online paper Napi Gazdaság, as you might do small research online their website ends with .HU suggesting Hungary, as well as WizzAir is Hungarian makes a bit sense.Thanks for articles.