By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Travel Radar - Aviation NewsTravel Radar - Aviation News
  • Breaking News
  • Aviation
    • Aircraft
    • Airlines
    • Airshow & Events
    • Careers
    • Manufacturing
  • Travel
    • Airports
    • Points & Loyalty
    • Technology
    • Trip Reviews
  • Newsletters
Reading: Wizz Air expects full-year loss for fiscal year 2022
Share
Sign In
Notification Show More
Font ResizerAa
Font ResizerAa
Travel Radar - Aviation NewsTravel Radar - Aviation News
  • Breaking News
  • Aviation
    • Aircraft
    • Airlines
    • Airshow & Events
    • Careers
    • Manufacturing
  • Travel
    • Airports
    • Points & Loyalty
    • Technology
    • Trip Reviews
  • Newsletters
Signin Sign In
Follow US
Copyright © Travel Radar Media Ltd. 2025 | All Rights Reserved
Travel Radar - Aviation News > News > Wizz Air expects full-year loss for fiscal year 2022

Wizz Air expects full-year loss for fiscal year 2022

Giacomo Amati
Last updated: 16 April 2022 09:09
By Giacomo Amati 3 Min Read
Share
Wizz Air A320 taking off. @ Wizzairhungary / https://commons.wikimedia.org/wiki/File:Wizz_air_new_livery_aircraft.jpg
Wizz Air A320 taking off. @ Wizzairhungary / https://commons.wikimedia.org/wiki/File:Wizz_air_new_livery_aircraft.jpg
SHARE

For the fiscal year (FY) ending 31 March 2022, the Hungarian ultra-low-cost carrier (ULCC) Wizz Air expects a net loss in the range of €632-652 million. Let’s see the reasons behind the loss and the future outlook for 2023.

2022 net loss: Covid-19 and Ukraine War

According to Wizz Air, the underlying reasons for the FY22 losses are to be found in the ongoing Covid-19 pandemic and the break-out of the Ukraine war. Particularly relevant was the surge of the Omicron variant in November 2021, which, according to the Official Airline Guide (OAG), caused a decline of 22% in Wizz Air frequencies in the months of November and December 2022 compared to 2019.

Moreover, Wizz Air is one of the European airlines mostly hit by the outbreak of the Ukraine war. Indeed, the Hungarian ULCC market share in the country amounted to 26.6%, second to the number one carrier, Skyup (28.6%), and before the Ryanair Group, with 16.2%.

Notwithstanding the anticipated net loss, the Group is confident in its strong liquidity position, with cash and cash equivalents amounting to €1.37 billion. During a crisis, such as the Covid-19 pandemic and, more recently, the Ukraine war, it is fundamental for an airline to be able to count on a solid liquidity position, so as to be able to meet its short-term liabilities, thus being considered financially sound.

Future outlook

For FY23, the focus of the management will be on maximizing revenues and returning to productivity levels seen before the Covid-19 pandemic, which would translate into improved profitability for the next financial year.

Indeed, at the beginning of FY23, the airline has confirmed it is ready to ramp up operations, especially in sight of the next summer season, when the airline expects to operate capacity, or Available Seats Kilometres (ASKs), 30% ahead of 2019 in the April-June quarter and 40% ahead of 2019 in the July-September quarter.

Based on the increasing booking patterns witnessed in the last few weeks, the carrier predicts demand for summer flights will build up significantly immediately after Easter. Indeed, the airline has announced new aircraft allocations at different airports in Europe, new routes, and frequencies for the next summer season.

Wizz Air is also confident that its expanded and diversified network, its ULCC low-cost structure, and lower fares will sustain a progressive and significant recovery in the months to come.

Do you think Wizz Air will manage to register pre-Covcid levels next summer? Let us know in the comment below!

 

You Might Also Like

The Ultimate Guide to Internet Options at Haneda Airport

Why have Air Fares Increased?

An Update to Air Canada’s Goodwill Policy : Offering Reimbursement

August Bank Holiday Weekend to be the busiest, says Cirium

CO₂ Emissions to Sustainable Aviation Fuel: How Finland is Piloting Production

Share This Article
Facebook Twitter Email Copy Link
What’s your thoughts?
Love0
Sad0
Happy0
Angry0
Giacomo Amati
By Giacomo Amati
Follow:
Aviation Reporter - Giacomo has been passionate about commercial aviation since his very childhood. Currently, he is pursuing a Master in Air Transport Management at the University of Surrey, UK. His expertise within the industry entails an internship with Emirates Airlines in Milan Malpensa airport and a bachelor's thesis on the financial status of the former Italian national carrier, Alitalia. Besides aviation, Giacomo loves foreign languages, German being his favourite one, and travelling.
Previous Article greece to drop covid entry restrictions Greece Entry Requirements to End
Next Article Air Peace aircraft Nigeria’s Flag Carrier Announces New Dubai Route
Leave a comment
Subscribe
Login
Notify of
guest
guest
0 Comments
Oldest
Newest Upvoted
Inline Feedbacks
View all comments

Stay Connected

FacebookLike
TwitterFollow
InstagramFollow
YoutubeSubscribe

Trending News

Air Canada flight attendant's strike
Air Canada flight attendants to end strike with the airline, after a tentative deal
Airline Economics Airlines
Boeing aircraft in the skies
Boeing in Talks with China with Potential for 500 Aircraft Sale
Aviation Manufacturing
Business Class in Emirates' Airbus A350
Emirates Set to Prohibit Passengers from using Power Banks
Aircraft Airlines
British Airways set to Operate to new destinations, summer 2026
British Airways is set to offer new destinations for your next summer getaway
Airlines Travel
Air Canada Airbus A321
Air Canada Introduces Exceptional Disruption Policy for Customers After Strike Action
Airlines Aviation Did You Know Travel
//

Travel Radar is the leading digital hub for all things aviation and air-travel. Discover our latest aviation news, aviation data, insight and analysis.

Discover

  • Latest News
  • Subscribe
  • Weekly Digest
  • Contact Us
  • Privacy Policy
  • About Us
  • Advertising
  • Media Coverage
  • Press & Events
  • Join Our Team
  • Our Brands

Signup to our Newsletter!

And get the latest aviation news via our weekly news digest!

© Travel Radar Media Ltd. 2015-2025 | ISSN #2635-0696 | Trademark #UK00003579704
wpDiscuz
adbanner
AdBlock Detected
Ads help us bring you high-quality, independent journalism for free. Support us by whitelisting us from your ad blocker.
Okay, I'll Whitelist
Welcome to the TR Community!

Sign in to your account

Register Lost your password?