Abu Dhabi: Wizz Air Abu Dhabi, which will be the emirate’s second low-cost airline, plans to start operations by the fourth quarter this year, foreseeing no delays on its plans.
The company said its strong cash position as well as a UK government-backed loan meant the group remained in a healthy position despite challenges faced by the industry after the COVID-19 pandemic brought travel to a complete halt.
“Wizz Air is one of few European airlines well-positioned to withstand the crisis in view of its strong balance-sheet and notably significant cash position of 1.5 billion euros as per March 2020,” the airline said in a statement. It recently tapped a 300 million pound commercial paper loan from the UK government’s support scheme to “further boost liquidity”.
The company also said it believed that a low-cost carrier would be ideally suited once the market gradually recovers, with travellers looking for more affordable options.
“We firmly believe the lowest cost always wins - our ultra-low cost model allows for ultra-low fares to stimulate consumer demand,” it added.
The Abu Dhabi services are being launched along with partner ADQ (formerly Abu Dhabi Developmental Holding Company),
A “wide selection of products and services provides a compelling offer - especially at times when propensity to fly is lower than before and the travelling public in general has less to spend in the aftermath of this unprecedented crisis,” the statement added.