Wizz Air CEO expects smaller airline industry after pandemic

Wizz Air CEO expects smaller airline industry after pandemic

LONDON- The world will have a smaller airline industry as a result of the coronavirus crisis with many privately funded carriers set to go under and governments throwing "good money after bad" to keep national champions afloat, Wizz Air's CEO said.Worst hit will be traditional carriers relying on a hub-and-spoke network and business traffic, but Wizz expects demand for its own cheap fares and direct routes to snap back quickly once the pandemic fades, the Hungarian airline's co-founder said.Wizz aims to widen a gap in unit costs compared to the rest of the airline industry thanks to regular deliveries of new Airbus aircraft, Chief Executive Jozsef Varadi added.Co-founded in 2003 by Varadi, a former head of Hungary's defunct national carrier Malev, Wizz Air is one of Europe's largest budget carriers