The budget carrier revealed on Tuesday (21 April) it is eligible for support under the government’s Covid Corporate Financing Facility.

Earlier this month, easyJet secured £600 million from the fund in the form of a commercial loan to further boost its liquidity.

In a short stock market statement, Wizz said it had received confirmation it is an eligible issuer under the UK government’s Covid Corporate Financing Facility.

The carrier added: "Wizz Air remains focused on further strengthening the company’s robust balance sheet and excellent liquidity with €1.5 billion cash at the end of March 2020, one of the strongest in the airline industry."

It comes after Wizz last week set out further cost-saving measures, including making nearly one fifth of its workforce redundant.

Chief executive Jozsef Varadi, the airline’s board of directors and its senior offices have meanwhile taken a 22% pay cut, and its pilots, cabin crew and office staff a 14% cut.

Wizz is also furloughing a number of staff, and will dispose of more than 30 older, leased aircraft over the next three years.

Its March traffic fell by more than a third year-on-year, and Wizz is now expecting its full-year profits to come in between €270-€280 million, some €70-€80 million down on its pre-Covid-19 forecast after opting to take the hit for March, April and May in its full-year 2020 results (to 31 March) rather than have the impact carry over to its full-year 2021 balance sheet.