Wizz Air posts first-half loss as 'challenging' winter beckons

The budget carrier on Thursday (5 November) posted a €145 million (£130 million) statutory loss for the six months to 30 September after passenger numbers plummeted more than 70% to just 6.5 million during H1.

Elsewhere, Wizz’s H1 earnings fell 97% from €607 million (£550 million) to €17.3 million (£15.5 million) and its revenue 72% from €1.67 billion (£1.5 billion) to €471 million (£425 million).

Total cash, meanwhile, amounted to €1.56 billion (£1.4 billion) at the end of H1, down from €1.82 billion (£1.65 billion) a year ago, which chief executive Jozsef Varadi attributed to "disciplined cost management" during the coronavirus crisis.

"Protection of the company’s liquidity position is our top priority and we expect, despite the projection of a difficult winter for the industry, to end the full-year at a solid liquidity position with an ability to respond to surging demand within weeks as a result of a strongly diversified network and a full integrity of its supply chain," said Wizz.