Wizz Air reports £489m loss over last year after lockdowns drove passenger numbers down 75% since…
Wizz Air reports £489m loss over last year after lockdowns drove passenger numbers down 75% since 2019
Budget flight firm Wizz Air says it has lost £489million in the past 12 months.
The devastating figures plummeted from a pre-tax profit of £254million down to the airline industry being battered during the Covid-19 pandemic.
It carried just 10.2 million passengers in the 12 months to the end of March, down by three-quarters from the year before.
Chief executive Jozsef Varadi said: ‘This was probably one of the most challenging years for the aviation industry, heavily impacted by Covid-19 related regulations.
‘Wizz Air’s (annual) revenue was down 73%.
‘Despite these unprecedented challenges, we stayed in control of our cost structure, preserved our cash position and maintained our investment grade balance sheet.’
Wizz Air had attempted to attract a younger clientele less than a year ago after inking a deal with reality star Gemma Collins to front their brand.
She was seen in a sheer pink frilled coat and £830 Dolce & Gabbana shades filming one of their new adverts after signing the ‘six-figure’ contract.
Wizz Air’s figures are just the latest in a depressing year for the airline industry.
International travel has been left on its knees by restrictions brought in to try and halt the rampage of coronoavirus.
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