THURSDAY 5 MARCH 2020Business news in brief
The owner of the Trafford Centre in Manchester has been forced to abandon plans to raise up to £1.5bn to pay down its massive pile
of debt (AFP)
Wizz Air cuts flights and costs as demand nosedives
Low-cost European carrier Wizz Air has revealed plans to slash routes, cut costs and freeze recruitment as
part of measures to offset plunging demand amid the coronavirus outbreak. The airline – which focuses on
the central and eastern European markets – said it will reduce flights from 11 March to countries affected by
the virus, mostly to Italy, and is looking at cutting capacity by about another 10 per cent between April and
June. Wizz Air said a task force has been set up to “address the financial implications of Covid-19” since the
start of the outbreak. Measures taken include “significant” cutting of overheads and discretionary spending,
pausing recruitment and non-essential travel, and working with suppliers to make further savings. PA
Hostelworld could take €4m hit from coronavirus