(Sharecast News) – Budget airline Wizz Air has cancelled the bulk of UK flights in January due to Downing Street’s most recent round of lockdowns aimed at curbing the spread of the Covid-19 pandemic.
Wizz’s chief executive Jozsef Varadi said he now expects January capacity to fall to 25% of that seen at the same time a year earlier, down even further from the 35% level seen in December.
Varadi also stated that the withdrawal of voting rights from the majority of its shares as part of an effort to comply with European Union ownership rules following Brexit was “sustainable”, although he noted that he anticipates the carrier’s EU investor base to grow in due course.
“Some of the investors who are international holders of stocks can reclassify their holdings by migrating from one investment vehicle to another,” said Varadi.
“So I think we’re going to be seeing a lot of changes in the next few months.”
As of 1300 GMT, Wizz stocks were down 3.61% at 4,308.86p.
