Wizz Air Losses Narrow

Analysis

Hungarian low-fare carrier Wizz Air booked a EUR 535.1 million loss for its business year ended March 31, an earnings report released on Thursday shows.

Losses narrowed from EUR 642.5 mln in the previous business year as margins improved.

Revenue jumped 134% to EUR 3.896 bln as passenger numbers climbed 88% to 51,072,000.

Wizz Air had a positive EBITDA of EUR 134.3 mln, improving from a EUR 23.3 mln loss in the base period.

The airline finished the period with a liquidity balance of EUR 1.529 bln.

CEO József Váradi put net profit for the business year started April 1 in a range between EUR 350 mln and EUR 450 mln "subject to the absence of adverse exogenous events such as an incremental impact from the war in Ukraine, delivery delays, or similar".

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