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

Stowaway Found Dead in American Airlines Landing Gear
20 dead as a Junkers JU52 crashes into the mountains in Switzerland.
Norwegian Boeing 737 denied to enter airspace
How Luftwaffe plans to revive its ‘aging’ Tornado fleet?
Aviator: The Flight-Inspired Game Taking Off in the Online World
Share This Article
Facebook Twitter Email Copy Link
What’s your thoughts?
Love0
Sad0
Happy0
Angry0
Giacomo Amati
ByGiacomo 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
Subscribe
Login
Notify of
guest

guest

0 Comments
Oldest
Newest Upvoted
Inline Feedbacks
View all comments

Stay Connected

FacebookLike
TwitterFollow
InstagramFollow
YoutubeSubscribe

Trending News

A red car driving on a road with the Hollywood sign in the background
Hotels by the Hour in LA : redefining luxury and lifestyle in the heart of the city
Travel Travel Radar
Avelo aircraft N808VL at RDU airport
Avelo Airlines Launches New Membership Programme
Airlines Aviation Points & Loyalty
OX1 Plant © OXCCU
OXCCU Raises £20.75 million to develop Sustainable Aviation Fuel from Waste Carbon
Airline Economics Aviation Manufacturing Technology
A320neo-and-A321neo-in-flight-together
Airbus A320 Overtakes Boeing 737 as Most Popular Aircraft with Record Deliveries
Aircraft Aviation Manufacturing
British AIrways Boeing 787 Dreamliner in flight
British Airways to Boost Connectivity between India and the UK
Airline Economics Airlines Aviation Route Development
//

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
Welcome to the TR Community!

Sign in to your account

Not a member? Sign Up