Low Cost & Regional

Wizz Air releases H1 financial results for 2021

photo_camera Wizz Air to base a new A321neo out of Luton (Pic: 2021 File photo)

Wizz Air generated revenues of €880.4 million during the first six months of the 2021 financial year, up 86.9 per cent on 2020, according to the low-cost airline’s latest financial report.

The European carrier’s passenger ticket revenues increased by 105 per cent to €413.8 million. Ancillary revenues increased by 73 per cent to €466.6 million. Loss for the period was reported at €120.9 million.

Commenting on the results, Wizz Air’s chief executive József Váradi said: “The second quarter of this fiscal year marks Wizz Air’s return towards 2019 traffic levels as we continue to transition to operational normality and see more people return to flying despite lingering restrictions.

“Our revenue performance was 79 per cent better than last summer and ex-fuel CASK in Q2 continued to normalise and was only 12 per cent higher compared to pre-pandemic levels. As a result, we delivered an operating profit of €57 million for the quarter. We closed the quarter with €1.7 billion of total cost, highlighting our ability to manage liquidity well and continue to maintain our investment grade rating.”

Wizz Air results for the first six months to 30 September 2021. Click to enlarge

In August, the airline’s capacity peaked at 98 per cent of 2019 ASKs, with load factors reaching 84 per cent in the same month.

Wizz Air carried 12.5 million passengers in the first half of 2021, up 92.7 per cent compared to 6.5 million passengers for the same period last year.

Commenting on the airline’s outlook for the full financial year, Váradi said: “Based on current market conditions, we anticipate operational loss in Q3 of around €200 million. The Q3 loss may carry over into the last quarter of the fiscal year depending on the operating conditions in the quarter. This will round off F22 as a true transition year out of Covid-19 with a network, team and fleet fully prepared for the peak F23 season.”

Wizz Air has also announced the appointment of Anna Gatti to its board as an independent non-executive director, with effect from 4 November. The digital sales and operations executive will help the airline as its scales up its business over the coming years with her experience in data and technology, the company said.

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