Low-cost European airline Wizz Air has announced that approximately 1,000 people, nearly one-fifth of its workforce, will lose their jobs as a result of the coronavirus pandemic.
It is now estimated that a third of 2.7 million jobs within the aviation industry have been lost or furloughed as companies battle to stay afloat amidst the crisis. In March we saw budget carrier EasyJet ground its entire fleet whilst Ryanair ceased flights for two months.
Wizz Air, who have revealed that year on year traffic for March was down 34 per cent, will also cut the salary of the workers it retains. Pilots, cabin crew and administrative staff will have their wages reduced by 14 per cent on average. The chief executive, board members and senior staff will also take a 22 per cent reduction in salary.
The decision to cut staff and reduce wages was taken as the airline is currently operating at 3 per cent capacity.
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The US government agree on a $25bn bailout package for the struggling airline industry in the wake of COVID-19. Airlines are expected to lose $314bn in revenue this year according to The International Air Transport Association as a result of the global pandemic bringing the majority of air travel to a standstill.