Wizz Air expects Q1 operating loss amid staff shortages, supply snags

European budget airline Wizz Air on Wednesday forecast an operating loss for the first quarter of the current fiscal year and reported a bigger annual loss, amid disruptions in the wider industry due to staff shortages at airports and supply-chain snags.

The London-listed group said demand for the summer was strong, but operational challenges had forced it to deploy extra resources to minimize disruptions.

Airports across Europe in the past week have struggled to cope with a rebound in demand, with British airports in particular facing chaos as a school half-term holiday coincided with the platinum jubilee holiday weekend.

“The industry is witnessing supply-chain issues across airports, including in our network. Shortages of staff in air traffic control, security and other parts of the supply-chain are impacting airlines, our employees and our customers directly,” Chief Executive Officer József Váradi said.

Wizz Air reported a loss of 642.5 million euros ($686.58 million) for the year ended March 31, compared with a loss of 576 million euros a year earlier.

Source: Reuters

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