Wizz Air 1Q 20/21 - Smaller loss than expected due to beat on revenues
As expected the first quarter was heavily impacted by Covid-19 related groundings and a related loss of EUR -107.5 mn on the bottom line. This is better than RCBe and consensus median expectations of EUR -143 mn and EUR -147 mn, respectively, with consensus being widely dispersed (mean: EUR -122 mn, range: EUR +33 mn to EUR -231 mn). Adjusting for losses on discontinued hedges of EUR 51.3 mn, which can be seen as one-offs, the adjusted net profit amounted to EUR -56.7 mn.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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