Wizz Air Q3 21 - Q3 slightly ahead of RBIe on FX, conference call takeaways
Revenue of EUR 149.9 mn in line with RCBe and consensusNet loss slightly lower than expected at EUR -116 mn, driven by EUR +45 mn FX effect
Cash position decreased from EUR 1.5 bn to EUR 1.2 bn, excl. January EUR 500 mn bond
Operations can be ramped up to 80-90% capacity within 2-4 weeks according to CEO
Refund liabilities back to pre-covid levels
We see the results as neutral, however long-term relative strengths remain in place
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.
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