Wizz Air flies in with trading update on April Fools day

The mid-point of the week will also bring the UK's manufacturing PMI, as well as similar data from the US

Wizz Air Holdings - Wizz Air flies in with trading update on April Fools day

The first day of April, and the mid point of the week, will bring an update from Wizz Air Holdings PLC (LON:WIZZ), which like the rest of the airline sector is struggling not to buckle as the pandemic puts the travel industry under an effective hiatus due to border closures and movement restrictions.

The budget carrier is due to deliver a trading update on Wednesday, just over a week after it said 85% of its fleet had been grounded.

The group also said keeping its entire fleet out of the skies was a “distinct possibility”, so investors will be eyeing whether the firm has taken the final step and stopped all flights as a result of the outbreak.

With the industry effectively on pause until the pandemic subsides, shareholders will be looking to see how the company has taken any steps to bolster its balance sheet and how fast it is burning through cash.

Any updates on whether the firm has applied for government assistance to help it cope with the stoppage are also likely to be welcomed by investors.

On the macro front, Wednesday will also bring the manufacturing PMI’s from both the UK and the US, providing markets with greater clarity on how the coronavirus pandemic is continuing to batter the world’s major economies.

Significant announcements that had been expected for Wednesday 1 April:

Trading announcements: Wizz Air Holdings PLC (LON:WIZZ)

Finals: Futura Medical PLC (LON:FUM), Brave Bison Group PLC (LON:BBSN), Cathay International Holdings Ltd (LON:CTI), RHI Magnesita NV (LON:RHIM), Sumo Group PLC (LON:SUMO), The Mission Group PLC (LON:TMG)

Economic data: UK manufacturing PMI, US manufacturing PMI


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