Wizzes Air operating at 3% of pre-Covid 19 capacity

Wizz Air is currently operating at 3% of its pre-Covid 19 capacity the central European LCC said in a market update released today. The firm recently announced March 2020 traffic of Wizz Air was down 34% year-on-year, however, as a consequence of COVID-19 and in line with IFRS standards, Wizz Air will recognize exceptional losses in Q4 of F20 of €70–80m, specifically related to hedging losses for the months of March to May 2020. As a result, Wizz Air expects to report a statutory net profit of €270-280m for F20.The firm has excellent liquidity with €1.5bn of cash at the end