StockMarketWire.com - Low-cost carrier Wizz Air said it had cuts flights, particularly to Italy, and could slice capacity by 10% in the June quarter in the wake of the coronvirus outbreak.

Wizz Air confirmed that demand for air travel within Europe in March had been impacted, especially in regions that were currently more affected by the disease.

'As a result, Wizz Air has made adjustments to its flight schedule between 11 March and 2 April, primarily to Italian destinations,' it said.

Subject to more impact on demand, the company said it was considering further adjusting network capacity in the magnitude of 10% in the first quarter of its 2021 financial year.

Wizz Air's financial year runs through the end of March.

The company said it had been taking action to soften the blow to its bottom line.

Actions included making significant reductions in overhead and discretionary spending, pausing recruitment and non-essential staff travel and working with suppliers to reduce costs.

'At this point in time it is difficult to predict the extent and the duration of the outbreak and the impact on the next financial year, however we remain confident that as the situation normalizes, Wizz Air will continue its highly successful trajectory,' Wizz Air said.



Story provided by StockMarketWire.com