Wizz Air in talks with airports to take over slots from carriers at risk of bankruptcy
Wizz Air is actively negotiating with European airports to acquire landing slots from financially struggling airlines. This strategy reflects a broader competitive scramble among low-cost carriers to expand market share as economic pressures threaten weaker aviation firms.
Why it matters
The consolidation of the European aviation market through slot acquisition significantly impacts consumer choice and regional travel pricing.
LISBON, Oct 13 (Reuters) - Budget carrier Wizz Air is in talks with airports across Europe to take over slots from airlines that could go bust, an executive said on Tuesday, after Ryanair CEO Michael O'Leary said the Irish low-cost airline was taking a similar step in late September.
"We are always negotiating deals with airports. That's part of our business," Wizz Air Chief Corporate Officer Owain Jones told Reuters on the sidelines of the World Aviation Festival in Lisbon. "He (Michael O'Leary) likes to think they're the only ones doing that."
Analysts and investors have warned that the high price of jet fuel and ongoing geopolitical uncertainty could lead weaker airlines to go bankrupt, particularly this winter. That would free up routes and slots for other carriers.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in