Less Ads, More Data, More Tools Register for FREE

Pin to quick picksWizz Air Share News (WIZZ)

Share Price Information for Wizz Air (WIZZ)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2,118.00
Bid: 2,094.00
Ask: 2,098.00
Change: 131.00 (6.59%)
Spread: 4.00 (0.191%)
Open: 2,030.00
High: 2,118.00
Low: 2,028.00
Prev. Close: 1,987.00
WIZZ Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Wizz Air expects annual loss of up to EUR590 million but cash strong

Thu, 15th Apr 2021 09:55

(Alliance News) - Wizz Air Holdings PLC is bracing itself for a net loss of as much as EUR590 million for the financial year just ended, it said on Thursday.

The Hungarian low cost airline said it expects to report a net loss of between EUR570 and EUR590 million for the year that ended March 31, swung from a EUR281.1 million net profit the year before.

Underlying loss is expected to be between EUR475 million and EUR495 million, swung from the EUR344.8 million underlying net loss it made in 2020. Wizz Air said the only exceptional cost it expects to take is EUR95 million for discontinued fuel hedges.

However Wizz Air said it remained in a strong cash position with EUR1.62 billion in cash at year end, after taking steps to shore up its finances. This is a 4.7% decline from the EUR1.70 billion cash balance it had at the end of the third quarter in December, after a EUR87 million cash burn in the final quarter.

With uncertainty regarding summer travel opportunities across the continent, Wizz Air said it expected "only a gradual traffic recovery into late summer 2021" before what it expects to be a period of good progress of national vaccination plans.

"Despite the continued impact of the pandemic, we are well prepared with one of the strongest balance sheets in the airline industry, flying one of the youngest and most efficient fleets and having a well-defined, proven business model," said Wizz Air Chief Executive József Váradi.

"Our agility and relentless focus on costs and cash are significant competitive advantages. Our network expansion and the investments we have made in our fleet over the past 12 months ensures we are well placed for a return to normal operations, and we are convinced we are now even better positioned to be a structural winner in the European aviation sector."

Wizz Air will release its full year results on June 2.

Shares were trading up 0.4% at 4,882.00 pence in London on Thursday morning.

By Will Paige; willpaige@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
14 Apr 2024 15:07

Israel reopens airspace as airlines cancel flights due to Iran attacks

JERUSALEM, April 14 (Reuters) - Israeli airlines said operations were returning to normal on Sunday after an overnight attack by Iranian missiles and drones closed the airspace and led to flight cancellations.

Read more
12 Apr 2024 17:28

FTSE 100 sets near record close as commodity stocks shine

FTSE 100 up 0.9%, FTSE 250 off 0.3%

*

Read more
11 Apr 2024 15:56

London close: Stocks finish lower as ECB stands pat

(Sharecast News) - London's stock markets finished in negative territory on Thursday, as investors reacted to the European Central Bank's latest policy announcement and a producer price index release in the United States.

Read more
8 Apr 2024 09:13

LONDON BROKER RATINGS: Wizz Air raised; HSBC cuts Rentokil to 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

Read more
5 Apr 2024 15:22

London close: Stocks finish lower as US payrolls top forecasts

(Sharecast News) - London markets closed lower on Friday amid a backdrop of heightened investor caution, following robust US job data for March, hawkish remarks from Federal Reserve officials, and escalating tensions in the Middle East.

Read more
3 Apr 2024 12:00

LONDON MARKET MIDDAY: Stocks down over US Fed rates cuts speculation

(Alliance News) - Stock prices in London were down at midday on Wednesday, as investors showed caution over the US interest rate cuts outlook, with continued robust data showing the resilience of the US economy.

Read more
3 Apr 2024 09:04

Ryanair and Wizz carry more passengers in March; Wizz load factor dips

(Alliance News) - European budget airlines Ryanair Holdings PLC and Wizz Air Holdings PLC on Wednesday reported growth in passenger numbers in March, although Wizz Air's load factor fell back.

Read more
3 Apr 2024 08:59

LONDON MARKET OPEN: FTSE 100 down as US Fed cut conviction wanes

(Alliance News) - Stock prices in London opened down on Wednesday, as sentiment in global equities weakened with investors fretting over the US interest rate outlook.

Read more
3 Apr 2024 07:57

LONDON BRIEFING: Wizz Air capacity rises; Hilton Food profit up

(Alliance News) - Stocks in London are set to open lower on Wednesday, as sentiment in global equities takes a hit amid doubts over the timing of US interest rate cuts following continued robust economic data.

Read more
3 Apr 2024 07:23

Wizz Air passenger numbers grow further in March

(Sharecast News) - Low-cost airline Wizz Air said in an update on Wednesday that it transported 4,778,980 passengers in March, marking a 12% increase compared to the same period last year.

Read more
4 Mar 2024 11:52

LONDON MARKET MIDDAY: Stocks mostly lower ahead of UK Spring budget

(Alliance News) - Stock prices in London were mostly lower at midday Monday, as the week started off on a quiet note ahead of a busy week of monetary policy decisions and economic data from across the globe.

Read more
4 Mar 2024 08:57

Ryanair and Wizz carry more people in February; Wizz load factor down

(Alliance News) - European budget airlines Ryanair Holdings PLC and Wizz Air Holdings PLC on Monday both said they flew more passengers last month than a year before, though Wizz said its load factor was hurt by the conflict in Gaza.

Read more
4 Mar 2024 07:41

LONDON BRIEFING: Stocks called down; attention on UK's spring budget

(Alliance News) - Stocks in London are called to open lower, ahead of a busy week of economic news.

Read more
4 Mar 2024 07:41

Wizz Air traffic rises but load factor hit by Israel disruption

(Sharecast News) - Low-cost airline Wizz Air saw an acceleration in passenger growth in February but its load factors remained firmly below last year as a result of reallocated flights from Israel and ongoing issues related to the Pratt & Whitney GTF engine recall.

Read more
1 Mar 2024 08:56

Ryanair forced to cut summer travel schedule due to late Boeing jets

(Alliance News) - Ryanair Holdings PLC on Friday said it will have to reduce its planned flying schedule during the key summer months this year, due to late deliveries of new airplanes by troubled US manufacturer Boeing Co.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.