Shares in Wizz Air have fallen by 5% following an announcement that the airline expects flight cancelations this summer as a result of labor shortages and industrial action at European airports.
The budget airline had previously been confident of returning to pre-Covid passenger numbers this year, but now says it expects to reduce scheduled flights by 5% over the summer, citing “ongoing external disruptions”.
Having dramatically reduced staffing levels during the pandemic, the aviation industry is struggling to recruit the numbers required to handle to resurgence of global travel. Various strikes by airport and cabin staff have caused further disruption in Europe, with major airports across the continent struggling to cope with the volume of passengers.
Airlines have also had to respond to rising fuel prices, although this has mostly been offset by passing on the expense to passengers.
London-listed Wizz Air’s decision follows an announcement from British Airways that it was cancelling 10,300 short-haul flights over the summer, approximately 13% of scheduled flights.
Last month UK regulators ordered airlines to give passengers suitable notice when canceling flights, following a spate of last-minute cancelations that left thousands stranded abroad.
Wizz posted an operating loss of 285 million euros ($289 million) for the first quarter, but expects to return to profit this quarter, with the company stating that it is selling over 90% of available seats as of this month.