One of Europe's most popular budget airlines has warned that their plane tickets are about to rise by a significant amount. The boss of Wizz Air has said that the price of a plane ticket could jump by close to 10% this summer.
The warning comes as Europeans are set to trying to get away after two years of heavy travel restrictions. Jozsef Varadi, the airline's chief executive, has said that prices have already increased in relative terms and that will continue between July and September.
The announcement is yet another blow for Brits who are looking to get away on the cheap this summer with the ongoing cost of living crisis, reports The Mirror. Wizz Air operates flights to Katowice in Poland from Bristol Airport.
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Mr Varadi said: “Our bookings are showing strong performance in the first fiscal quarter, with average fares trending higher at low single digits versus (the) same period in F20 (financial year ending March 2020). For fiscal quarter two, we expect fares in the upper single digits ahead of the equivalent period F20.”
Recent disruption at airports across Europe might also end up having an impact on the business, with Wizz forecasting it will make an operating loss in the first quarter of the financial year. Mr Varadi said: “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 see strong consumer demand for summer, but expect an operating loss for the first quarter of F23. 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. As a result, at this point, we are not providing further financial guidance for the year.”
