March 4, 2020 / 7:17 AM / in a month

BRIEF-Wizz Air Says Considering Further Adjusting Network Capacity In Magnitude Of 10% In Q1 F21

March 4 (Reuters) - Wizz Air Holdings PLC:

* IS PROVIDING AN UPDATE ON TRADING FOR FINANCIAL YEAR ENDING 31 MARCH 2020 (“F20”), FOLLOWING EVOLVING COVID-19 OUTBREAK

* DEMAND FOR AIR TRAVEL IN EUROPE IN MARCH 2020 HAS BEEN IMPACTED ESPECIALLY IN THOSE REGIONS THAT ARE CURRENTLY MORE AFFECTED BY COVID-19

* MADE ADJUSTMENTS TO ITS FLIGHT SCHEDULE BETWEEN 11(TH) OF MARCH AND 2(ND) OF APRIL, PRIMARILY TO ITALIAN DESTINATIONS

* AT THIS POINT IN TIME IT IS DIFFICULT TO PREDICT EXTENT AND DURATION OF OUTBREAK AND IMPACT ON NEXT FINANCIAL YEAR

* ACTIONS HAVE INCLUDED SIGNIFICANT REDUCTIONS IN OVERHEAD AND DISCRETIONARY SPENDING

* MULTI-DISCIPLINARY TASK FORCE TO MAINTAIN EFFICIENT OPERATION, DRIVE FURTHER SAVINGS TO ADDRESS FINANCIAL IMPLICATIONS OF VIRUS

* SUBJECT TO FURTHER IMPACT ON DEMAND FROM COVID-19, CONSIDERING FURTHER ADJUSTING NETWORK CAPACITY IN MAGNITUDE OF 10% IN Q1 F21 Source text for Eikon: Further company coverage:

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