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Wizz Air: Travel chaos disrupting our bottom line - YouTube
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the issues affecting its bottom
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line, reporting an operating
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loss --
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whizzes CEO is with me now from
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London.
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It's good to see you Joe.
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As always.
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When you --
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you K transport secretary who
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said airlines have to get the
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act together.
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Airlines can't inflict this
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upon passenger.
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Airlines need to stuff
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properly.
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Did your blood pressure go
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through the roof?
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>> Absolutely.
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I think he's completely wrong.
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If you look at the systemic
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issues, especially in the
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United Kingdom, the supply
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chains, does not --
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read in warning the markets all
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over the place for nine months.
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The market will come back.
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The demand will.
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Come back because people want
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to travel post pandemic.
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The supply change and ramp up
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capacity accordingly.
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--
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the industry had months to get
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its act together.
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I know omicron.
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I know all the different.
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Once but you had months to get
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your act together.
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And I don't know anyone
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traveling over the holiday, for
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the platinum jubilee, did not
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have some sort of misery at an
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airport.
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Do you not agree that this is
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unacceptable?
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>> Totally unacceptable.
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I think these people deserve a
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lot better treatment than what
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they were ending up getting.
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People couldn't travel for two
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years and then finally off they
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go, they buy expensive, tickets
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they buy their hotel rooms, et
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cetera, and in the end they get
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canceled.
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It is totally unacceptable.
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I agreed with you, the industry
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needs to act together to fix
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the situation.
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The industry softening,
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suffering from the shortage of
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labor, and we need to get labor
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back into the industry.
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--
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everyone needs to act together.
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This is an issue for the
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industry.
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This is an issue for the
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government.
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Everybody needs to pay.
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>> You said today it is gonna
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cost the bottom line.
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But I gather you --
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but I you're also gonna be hit
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with the really heavy eu, or uk
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to 61 bill for compensation,
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aren't you?
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>> Absolutely.
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I think the --
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I think people have to be
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protected.
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So either you operate properly
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and fly the flight, so you have
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to play a severe amount of
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money for compensations
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purposes.
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--
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>> As you look at your schedule
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for the summer, what are you
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telling your people?
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Obviously, you don't want to
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leave passengers, you don't
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want to leave business on the
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table, but at the same time,
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you want to grow the airline.
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You are in a fierce competition
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station with ryanair, easyjet,
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what is your strategy for the
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summer?
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>> Well we are creating our own
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contingencies.
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We are creating a lot more
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reserves in the system.
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We are creating more spare
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capacity.
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More spare aircraft to be used.
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We are overstaffed thing to
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have a buffer in the system.
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Socially be long delayed, we
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are still able to staff the
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next flight.
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The issue is, the day is still
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24 hours, you have to resolve
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all these issues within that
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timeframe.
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But we cannot fix ourselves
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completely.
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We are dependent on the supply
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chain.
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The supply chain needs to act
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on this as well.
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>> Finally, the number of
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places you have got on order is
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just staggering.
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Do you still expect that you'll
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take them all?
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>> Oh absolutely.
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We are serving the interest of
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the customer.
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The customers want to travel.
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People want to fly.
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We are just putting a rapid
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capacity.
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To me, that's our job.
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That's our role in the
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industry.
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We are very positive, very
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upbeat about the prospect of
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the industry.
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A lot of people are back, and
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they want to fly.
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Industry --
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demand is back.
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Airlines have to fit a lot
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demand.
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>> I've gotta ask you.
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Consolidation, do you see any
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of it?
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Are you interested in it?
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Are you looking?
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Are you smelling around?
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>> I think consolidation is
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going to happen, it's
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inevitable.
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Probably not in the summer,
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because that's a period where
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airlines are doing well.
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