Wizz results

Hungarian-based, but British-registered airline, Wizz Air has delivered 12 months’ results which disappointed the stock market with its shares still in the doldrums. 

Wizz Air carried 27m passengers in 2021/22 and saw losses of €19m compared to a deficit of €182.8m the previous year.

The budget carrier said shortages of staff “in air traffic control, security and other parts of the supply chain are impacting airlines, our employees and our customers directly”.  

Following a curtailing of services at Doncaster Airport the airline has been severely criticised in some quarters suggesting that its expansion should be restricted. Whilst announcing new European routes, on a regular basis, Wizz Air is very much into Dubai, now Saudi Arabia and has confirmed start-up in Malta.

Jozsef Varadi, Chief Executive, Wizz Air, said that it stood ready to deliver its “largest-ever summer flying programme” in 2022/23, with “the fastest growth in the industry”.

The situation was “adding to a volatile macro environment”, particularly around the Ukraine war, he said.

“Our planned capacity growth for the first two quarters of full year 23 is over 30% and 40% respectively, and for the year we expect even stronger growth versus 2020. This will be enabled by a fleet of 182 aircraft by the end of the fiscal year".

Wizz Air plans to operate almost 400 aircraft by 2027.

www.wizzair.com

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