Wizz Air Slashes Flights from Gatwick in Scramble to Cut Costs

Wizz Air is slashing the number of flights it operates from Gatwick in a scramble to cut costs, the boss of the airline has said, The Telegraph reported. József Váradi, the chief executive of Wizz, said it was losing money flying out of Britain’s second-busiest airport because of high operating fees and poorly timed departure slots. As part of a Europe-wide shake-up, the Budapest-based carrier will move more planes from Gatwick to Luton because of its lower costs.
Hungary
United Kingdom
Read more

Trump Tariffs Would Hit Hungary Hard Despite Warm Relations with MAGA-Friendly Orbán

Hungary's populist prime minister has spent years building a close political relationship with U.S. President Donald Trump and aligning himself with the MAGA movement, the Associated Press reported. But despite Viktor Orbán's success in gaining favor with the culturally conservative and nationalist wing of Trump's administration, his country is poised to be among those hard hit by Trump's tariffs against the European Union. Trump earlier this month announced he would levy tariffs of 30% against Mexico and the EU beginning Aug.
Hungary
Read more

Hungarian Fertilizer Tycoon Digs In as Creditor Spat Deepens

Laszlo Bige, the owner of Hungarian fertilizer maker Nitrogenmuvek Zrt, ruled out using tangible assets as collateral in a standoff with creditors over extending a looming maturity date for its bonds, Bloomberg News reported. Talks between Nitrogenmuvek and holders of around 70% of the €200 million ($228 million) of bonds due in mid-May concluded last week with no deal. The creditor group had asked for tangible assets to be posted as collateral, as well as some sort of contribution from shareholders as part of the refinancing, Bloomberg reported.
Hungary
Read more