An airline serving various UK airports has today announced it is to make around 1,000 employees redundant.
Wizz Air has announced a sweeping round of redundancies it says will affect almost a fifth of its workforce, after operating at 3% of its "pre-coronavirus capacity".
The airline operates at UK airports including London Luton, Liverpool, Bristol, Birmingham and Edinburgh.
According to Hungary-based Wizz Air, the largest low-cost airline in Central and Eastern Europe the salaries of pilots, cabin crew and office staff will be cut by 14% on average.
The chief executive, the board and senior staff will all take a 22% cut.
Most of Wizz Air's employees are not based in the UK.
The firm said it has also been working with suppliers to reduce rates and improve payment terms. The airline confirmed it will gradually return 32 older leased aircraft by the end of F23 as existing lease contracts expire too.
Wizz Air chief executive József Váradi said: "First and foremost, I would like to thank our people for their tremendous support to passengers and communities across all countries during these unprecedented times.
"They have risen to the challenges facing Wizz Air and the industry with grace and determination, especially when it comes to performing repatriation flights for citizens stranded by COVID-19 across the world and delivering key medical supplies to help our countries, communities of caregivers and their patients.
He added that the firm had taken action to "protect the position of the company" and is reviewing all its assets, the Mirror reports.
"We are also working to further improve our strategic, cost and cash position in the aftermath of this crisis to ensure we can deliver our long-term growth target.
"The Company is expecting to deliver significant shareholder value, environmental benefits and employment opportunities in the years to come."
