European looices found themselves in a more advantageous position compared to major air carriers against the background of economic recovery after the crisis provoked by the coronavirus pandemic. According to CNBC, the budget companies have become accomplished at the desire of passengers to save on trips.
Hargreaves Lansdown Analyst Laura Hoi said that low cost airlines focus on short flights. They become more attractive for passengers, taking into account the ongoing restrictions on trips and economic uncertainty, which allows the speakers to earn more.
Ryanair and Wizz Air Loaders rose from the beginning of 2021 by 6.6 and 8.72 percent, respectively. For comparing the shares of major competitors, International Airlines Group (IAG) and Lufthansa fell six and 21.45 percent, respectively, for the same period.
Governments supported the air carriage sector during a pandemic. Germany provided its carrier Lufthansa nine billion euros (10.6 billion dollars), and British Airways received a loan in December in the amount of two billion pounds of sterling ($ 2.76 billion) from the Government of the UK. “It helped them to survive hard times,” said Hoi, adding that despite the huge cash infusion to support the growth of companies failed. According to the analyst, many lawsosters will be able to select market share in large.