5th May 2020 09:07
(Alliance News) - Budget airlines Ryanair Holdings PLC and Wizz Air Holdings PLC on Tuesday posted dismal trading performances for April as a result of air travel restrictions imposed by governments across Europe to contain the spread of the new coronavirus.
Airlines around the globe have furloughed or shed thousands of staff in a bid to stay afloat, as the majority of the world's air travel remains restricted.
Ryanair on Tuesday reported a 99.6% drop in April traffic to just about 40,000 passengers from 13.5 million in April 2019 due to flight bans and travel restrictions.
The core Ryanair branded airline carried all the 40,000 passengers in the month, while Lauda in Austria flew none at all.
The Irish company said it operated just 600 scheduled flights in April and expects to carry minimal traffic during the months of May and June as well.
At the start of May, Ryanair had warned that it could slash up to 3,000 jobs, implement a 20% pay cut and close several European bases in response to the destructive effects of Covid-19 on travel.
Eastern European-focused Wizz Air separately reported a 98% fall in April passenger numbers to 78,389 from 3.3 million in April 2019.
More positively, Wizz Air announced five new destinations to Abu Dhabi, with the first flights from Budapest and Bucharest commencing in June 2020, and three additional destinations starting in September. The launch of the company's new low-cost airline Wizz Air Abu Dhabi is progressing in line with the initial timeline, it said.
Shares in Ryanair were up 2.0% at EUR9.41 each in London on Tuesday morning. Wizz Air was up 0.2% at 2,616.00 pence each.
By Tapan Panchal; [email protected]
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