Wizz Air - No financial surprise is expected for FY21, but…
Wizz Air will post its FY21 results on the 2nd of June (Wednesday), BMO. During
the last quarter of fiscal 2021, Wizz Air carried 1.437million passengers (-82%
YoY), and operated 26% of its 2020 traffic at a load factor of 63.7% vs. 92.0% a
year earlier. According to the April post-close trading statement, Co. expects a
reported FY21 net loss of EUR 570-590mn and an underlying loss of EUR 475-
495mn. Besides this, the Company also disclosed that total cash position, which
includes restricted cash and EUR 500mn raised via a bond issuance in January,
stood at EUR 1.615bn at the end of March. More importantly, we estimate a free
cash position of EUR 1.44bn, which enables the carrier to withstand 2 years in
case of a full grounding.
Wizz Air Holding is a European airline. As of Mar 31 2017, Co. provided more than 500 routes from 28 bases, connecting 141 destinations across 42 countries. Co. has two reportable segments: the airline and the tour operator business units, marketed under the Wizz Air and Wizz Tours brand names, respectively. Wizz Air sells flight tickets and related services to external customers and, to an extent, to Wizz Tours. Wizz Tours sells travel packages to external customers covering the network of Wizz Air.
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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