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
Have an existing account? Sign In
Follow US
Copyright © Travel Radar Media Ltd. 2024 | 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

IndiGo and BIAL: Sign MoU for MRO facility at Kempegowda International Airport

Emirates to Reintroduce Damascus Flights Starting July 16

Tourism Season Lost in Turkey as 4000 Hotels Face Closure

Busiest Airline and Aircraft for Air Travel in 2025

Emirates re-enters FIFA 2025: A new partnership with Al Ain FC

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

Boeing landing at sunset
Menzies Aviation: ‘All In’ Sustainability Ground Handling Services
Technology
IATA Awards 2025
2025 IATA Diversity and Inclusion Award Winners Revealed
Aviation Careers Did You Know
A Photo of a Departing FedEx Airplane
FedEx and Neste Launch Sustainable Aviation Fuel Initiative
Airline Economics Airlines Aviation
Garmin SmartCharts
Garmin Simplifies Aviation Charting with SmartCharts
Aviation Technology Travel
Tourists walking at an airport to show international tourist arrival
World tourism soars: International tourist arrivals up 5% in 2025
Airports 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

  • About Us
  • Contact Us
  • Careers
  • Press & PR
  • Privacy & Legal

Our Content

  • News
  • Data
  • Images
  • Jobs
  • Subscribe

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Click here to Signup!

© 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?