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Air travel prices are likely to rise by 'upper single digits', says boss of a leading airline

Air travel prices are likely to dramatically rise by the end of the summer, says the boss of a leading airline.

József Váradi, Wizz Air’s chief executive attributes the expected hikes by “upper single digits” to the UK and European travel sectors failing to cope with the increasing demand for travel since the dropping of COVID-19 restrictions with them and other airlines, such as British Airways, EasyJet, cancelling flights to tackle the issue.

After his firm suffered a $685.2 million net loss and outlined plans for growth between 30 and 40 per cent in 2022, he said: "The industry is witnessing supply-chain issues across airports, including in our network.

"Shortages of staff in air traffic control, security and other parts of the supply-chain are impacting airlines, our employees and our customers directly.

"We are deploying extra resources to minimise disruptions and urge all other stakeholders to do the same, having customers' best interests always in mind."

József ruled the pandemic causing virus to be now “endemic” and went to acknowledge the imp of the war in Ukraine on the industry, posing problems to air-traffic control and fuel.

"The airline industry remains exposed to externalities such as air traffic control disruption and continuing operational issues within the airports sector, adding to a volatile macro environment.

"Rising energy costs and inflation across Europe will continue to favour ultra low-cost carriers as consumers reconsider spending choices.

"We are partially hedged over the summer providing partial protection against fuel price surges and we continue to look at opportunities to extend these insurance coverages for the full fiscal year at the right conditions."

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