Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Wizz Air Holdings Plc    WIZZ   JE00BN574F90

WIZZ AIR HOLDINGS PLC

(WIZZ)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

UK's Gatwick Airport sees travel boost from new testing rules

11/27/2020 | 08:35am EST

* CEO says flights at about 100 per day from mid-Dec

* Says new shorter quarantine rule boosting travel

* Sees strong summer next year

* Says Wizz, Ryanair keen to grow at Gatwick

GATWICK AIRPORT, England, Nov 27 (Reuters) - The boss of Britain's Gatwick Airport said the introduction of shorter quarantine times from mid-December was boosting travel, and that the combination of testing and a COVID-19 vaccine means he is optimistic holidays can restart next year.

Gatwick, Britain's second busiest airport, is opening a new COVID-19 testing facility on Monday, offering passengers discounted tests. CEO Stewart Wingate hopes by making it easier and cheaper to get a test, more people will travel.

From mid-December, travellers arriving in England will have to quarantine for five days instead of 14 if they have a negative test, a rule change which Wingate said is helping.

"We are seeing already an uptick in flights, so we should expect to see about 100 flights per day by the time we get to the middle of December, and across the Christmas period," he told Reuters in an interview.

The pandemic has battered the aviation industry, leaving Gatwick particularly exposed as airlines such as British Airways and Virgin Atlantic have prioritised flights from Heathrow, Britain's no.1 airport to the west of London.

During England's latest lockdown in November, Gatwick, easyJet's biggest base, had about four flights a day, a startling drop from 600 flights a day this time last year. Some of Gatwick's airlines, such as Norwegian, are fighting for survival.

Wingate, who has had to axe 45% of Gatwick's staff during the pandemic, forecast a travel recovery next summer, when he expected the airport's airlines to be flying between 60% and 70% of their 2019 capacity.

"I expect once the vaccinations roll out and the testing is rolled out, we should expect to see quite a strong performance in the market next summer," he said.

The testing site in a long-stay car park at Gatwick will initially be able to test up to 500 people per day, but this could be ramped up to 2,000 a day, and then 4,000 a day given sufficient demand, according to testing company ExpressTest.

Wingate said demand for tests at the site was "strong" and he hoped ExpressTest would roll out more sites. They will cost Gatwick passengers 60 pounds ($80), and anyone else 100 pounds.

Wingate said Gatwick, 30 miles south of London, also remained attractive to airlines. Hungarian airline Wizz Air has publicly said it wants to expand at Gatwick, and Wingate said others did too.

"Ryanair are quite keen to grow as well at the airport," he said.

($1 = 0.7500 pounds) (Reporting by Sarah Young; Editing by Kate Holton and Jan Harvey)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
EASYJET PLC -6.66% 728.6 Delayed Quote.-5.95%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. -7.65% 140 Delayed Quote.-5.13%
RYANAIR HOLDINGS PLC -4.08% 14.24 Real-time Quote.-8.67%
WIZZ AIR HOLDINGS PLC -4.35% 4092 Delayed Quote.-6.27%
All news about WIZZ AIR HOLDINGS PLC
01/22WIZZ AIR : Launches a new summer route from bourgas
PU
01/22WIZZ AIR : Announces new routes from poland
PU
01/20EasyJet's Passenger Traffic Recovery in 2021 to Take Hit from Renewed Travel ..
MT
01/14Airlines face more turbulence before vaccine relief
RE
01/14WIZZ AIR : Abu dhabi commences operations in abu dhabi
PU
01/14Wizz Air Prices Debut $608 Million Bond
MT
01/14WIZZ AIR : makes bond debut with €500mn issuance
AQ
01/07Wizz Air CEO says shareholder vote curbs meet post-Brexit rules
RE
01/07Wizz to cut flying plans on new lockdowns, sees summer rebound
RE
01/05GLOBAL MARKETS LIVE: Volte-face
More news
Financials
Sales 2021 753 M 914 M 914 M
Net income 2021 -506 M -614 M -614 M
Net Debt 2021 1 557 M 1 889 M 1 889 M
P/E ratio 2021 -10,9x
Yield 2021 -
Capitalization 4 115 M 4 999 M 4 994 M
EV / Sales 2021 7,53x
EV / Sales 2022 2,62x
Nbr of Employees 5 300
Free-Float 79,9%
Chart WIZZ AIR HOLDINGS PLC
Duration : Period :
Wizz Air Holdings Plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends WIZZ AIR HOLDINGS PLC
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 50,15 €
Last Close Price 48,07 €
Spread / Highest target 34,3%
Spread / Average Target 4,33%
Spread / Lowest Target -43,8%
EPS Revisions
Managers and Directors
NameTitle
József Váradi CEO & Non-Independent Executive Director
William Augustus Franke Chairman
Diederik Pen Group Chief Operating Officer & Executive VP
Jourik Hooghe Group Chief Financial Officer & Executive VP
Stephen L. Johnson Non-Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
WIZZ AIR HOLDINGS PLC-6.27%5 003
DELTA AIR LINES, INC.-0.52%25 406
RYANAIR HOLDINGS PLC-8.67%20 374
AIR CHINA LIMITED-11.64%13 885
UNITED CONTINENTAL HOLDINGS, INC.-2.57%13 141
CHINA SOUTHERN AIRLINES COMPANY LIMITED-8.44%11 850