Wizz Air Reports Losses After Rapid Expension Amid Crisis

Wizz Air recorded a loss of 243 million euros in the first half of the 2020 financial year. Due to the many travel restrictions as a result of the pandemic, the number of passengers transported decreased by 71 percent to 6.5 million. Revenue fell to 471 million euros.

Last year, the Hungarian budget airline recorded a turnover of 1.7 billion euros and a profit of 368 million euros in the same period.

Despite the loss, CEO József Váradi is optimistic. “We are doing well compared to the rest of the sector. Moreover, in recent months we have invested in the long term, by opening thirteen bases in Europe and setting up more than 260 new routes. ”

Wizz Air expanded in Italy, among other places, and also entered the domestic Norwegian market. In addition, subsidiary Wizz Air Abu Dhabi was given permission to fly from the Middle East. The fleet was expanded with eleven new aircraft.