Wizz Air has extended the contract of founding chief executive Jozsef Varadi to steer the budget carrier through the Covid crisis.

The contract is indefinite and the terms of his service agreement are “materially the same” as Varadi’s existing deal.

The agreement “underlines the board’s confidence in Wizz Air’s entrepreneurial leadership, agility and strength going forward”. 

Bill Franke, chairman of the Hungarian airline, said: “Jozsef is our founding CEO.

“He has been a major driving force in developing Wizz Air  into a leading player in European aviation and one of the world’s true ultra-low-cost carriers.

“We are pleased he will continue to lead the business.

“While aviation is globally facing the most challenging period in its history, the Wizz Air business model, strategy and cost base positions it to be a long-term structural winner in the sector.”