Hungarian airline Whizz Air has announced it will cut approximately 1,000 redundant jobs, affecting almost a fifth of its workforce, the company said.
The low-budget airline, which mainly operates in central and eastern Europe, said the salaries of pilots, cabin crew and office staff will be cut by an average of 14%.
The chief executive, board members and senior staff will also take a 22% pay cut in a dramatic move to survive the coronavirus pandemic.
Wizz Air said it had made the drastic decision as it is now operating at three per cent of its pre-coronavirus capacity.
The airline announced plans to return older, leased aircraft in an effort to lower costs amid the global health crisis.
Wizz Air is the latest in a list of airlines to announce drastic measures in an effort to stay afloat amid the growing coronavirus crisis.