Wizz Air - Weak results, but a cash-flow positive quarter
Wizz Air published its fiscal Q1/22 report today, BMO.
In a nutshell, Wizz Air reached a net u’lying loss of EUR 118.7mn on revenues of EUR
199mn in the previous quarter ended on the 30th
of Jun, vs. our net loss estimate of EUR
91.3mn and revs forecast of EUR 215.6mn. The difference mainly came from weaker-thanexpected fare prices, higher maintenance costs, but FX gains. Ancillary revenues
outperformed ticket revenues in Q1, while cost control and liquidity position continued to
remain excellent predominantly due to unflown revenues (EUR +205mn).
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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