Wizz Air estimated its fiscal losses in the amount of $ 700 million

Created on 26.04.2021 16:44

Hungarian low-cost airline Wizz Air has published preliminary results of the fiscal year, under which the previous twelve months of the pandemic resulted in numerous losses in the amount of 590 million euros (682-706 million dollars), including 95 million euros on fuel hedging.

The confirmed annual financial results will be released on June 2. Despite the huge losses, Wizz Air is keeping a safe liquidity; at the end of the year a company had € 1.6 billion in their account.

“We're expecting only a moderate recovery in passenger traffic by the end of the summer season after a solid progress in vaccinating the population in key markets,” says Jozsef Varadi, Wizz Air President. The low-cost airline manages its carrying capacity by monitoring the situation in each of the markets where it operates by focusing on "cost-effective" routes.

2704 views