(Bloomberg) --
Wizz Air Holdings Plc, Europe's third-biggest discount airline, is attracting more passengers than long-time market leader Ryanair Holdings Plc as it races to restart flights following the easing of coronavirus lockdowns.
Chief Executive Officer Jozsef Varadi has been building up operations faster than rivals, helped by Wizz's focus on Eastern Europe, where the pandemic has had less of an impact, and a cost base that's the lowest in the region.
Wizz carried more than 500,000 customers in June, compared with 400,000 at larger rival Ryanair, after restoring more than 25% of its usual summer capacity. The tally was still down 86% on last year and Wizz's flights operated with only 52% of seats occupied -- well below the breakeven point for most airlines. In the same month last year it filled 95% of capacity.
Ryanair's push to crank up services has been held back by rules requiring people arriving in Britain, its top market, to self-quarantine. The government plans to ease the restrictions with so-called air bridges from next week.
©2020 Bloomberg L.P.
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