Wizz Air takes coronavirus action

The airline - which focuses on the central and eastern European markets - said it had reduced flights to countries affected by the virus, primarily Italy, and is looking at cutting capacity by about another 10 per cent between April and June.

Wizz Air said a task force had been set up to "address the financial implications of Covid-19" since the spread of the virus.

It did not estimate the size of the hit from the outbreak in the year to March 31 and added it was "difficult to predict the extent and the duration of the outbreak and the impact on the next financial year".

Wizz Air said: "Demand for air travel within Europe in March 2020 has been impacted especially in those regions that are currently more affected by Covid-19."

It added: "Since the outbreak of Covid-19, Wizz Air has established a multi-disciplinary taskforce to maintain a highly-efficient operation and drive further savings to address the financial implications of Covid-19.

"The company's actions have included significant reductions in overhead and discretionary spending, leveraging our highly-dedicated staff across our network, allowing us to pause recruitment and non-essential travel, working with suppliers to reduce cost and an effective allocation of our assets to maximise return for the company."