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

Air
James Chapple
5 November 2020

Wizz Air claims to have laid foundations for a "swift recovery" from the Covid crisis, despite sinking to a substantial first-half (H1) loss ahead of what it predicts will be a "particularly challenging" winter.

December

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.