Wizz Air hit by higher costs but says disruption is starting to ‘normalise’

By Lisa James
27/07/2022
Home » Wizz Air hit by higher costs but says disruption is starting to ‘normalise’

Wizz Air saw operating costs for the three months to 30 June increase to €285 million, up from €109 million the previous year.

The airline’s unaudited results for the period – its first quarter for 2023 – show an underlying net loss of €452.5 million.

Revenue increased 306.4% year-on-year to €808.8 million, with ticket and ancillary revenues up three-fold.

In the first quarter, Wizz Air carried 12.2 million passengers, a 312.4% increase compared to the same period in the previous year.

Chief Executive Jozsef Varadi said: “During the first quarter of F23 we continued to ramp-up Wizz Air as COVID-19 transitioned from a pandemic to an endemic setting.

“Passengers and revenue more than quadrupled versus the same quarter last year, up almost 20% versus pre-pandemic levels, with 30% more capacity operated.

“Whilst we are rebuilding the airline with greater scale we remain very conscious of the challenging macroeconomic and operational backdrop.”

He added: “We are encouragingly starting to see normalisation of operational disruption levels.”

Share this article

Gold Medal - Australia Promotion

News Sign Up

LATA Expo

Advertising

Advertising