Wizz Air said Wednesday that if traditional pre-pandemic travel conditions are not restored, it expects more heavy economic losses. Of course, there is nothing surprising about this, but we do not know how far the management of Wizz Air looked when they saw 2020 data. In all likelihood, large enough.
Compared to 2019, the low-cost airline posted a net loss of HUF 576 million in 2020 and HUF 196.4 billion at today’s average exchange rate.
The company’s revenue fell by 73 percent to 739 million euros due to travel restrictions imposed due to the Covid virus. Passenger numbers are down three-quarters from the previous year, with nearly ten million passengers on Wizz Air, as old passenger numbers are not expected to recover by 2023.
This is sound The light at the end of the tunnel: Last May, only 126 thousand exchanged tickets for Wizz Air flights, compared to 833 thousand in May this year.
The company’s CEO, Joseph Faraday, said the past 12 months have been one of the biggest challenges in the history of commercial aviation. He noted that while it appears that low-cost companies will come out of the crisis a little better during the pandemic, this has not been the case, and Ryanair and EasyJet have been completely grappling with the coronavirus pandemic.
Vardy explained that the company still has more than £1.6 billion in cash, so they are looking forward to the next quarter.
Our big interview with Joseph Faraday by clicking here Available.