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WIDDL wizzair.com Q1 F22 RESULTS CASH FLOW POSITIVE QUARTER , RECOVERY INTO SUMMER LSE : WIZZ Geneva , 28 July 2021 : Wizz Air Holdings Plc ( " Wizz Air " or " the Company " ) , the fastest growing European low - cost airline , today issues unaudited results for the three months to 30 June 2021 ( " first quarter " or " Q1 " ) for the Company . Press Release Three months to 30 June Passengers carried Revenue ( € million ) EBITDA ( € million ) EBITDA margin ( % ) 2021 2,954,213 199.0 ( 17.8 ) ( 9.0 ) ( 114.4 ) ( 57.5 ) ( 118.7 ) Underlying net profit / ( loss ) for the period ( € million ) * Underlying net profit / ( loss ) margin for the period ( % ) ( 59.6 ) RASK ( € cent ) 2.69 Ex - Fuel CASK ( € cent ) 3.57 Total Cash ( € million ) 1,662.6 Load factor ( % ) 63.6 Period - end fleet 141 * Q1 FY22 underlying net profit excludes the impact of hedge gains classified as discontinued ( amounting to € 4.3 million ) Profit / ( loss ) for the period ( € million ) Profit / ( loss ) margin for the period ( % ) 2020 Change 707,184 317.7 % 90.8 119.2 % ( 42.4 ) n.m. ( 46.7 ) 37.7ppts ( 108.0 ) n.m. ( 119.0 ) 61.5ppts ( 56.7 ) n.m. ( 56.7 ) ( 2.9 ) ppts 4.36 ( 38.2 ) % 6.81 ( 47.5 ) % 1,587.9 4.7 % 55.5 123 József Váradi , Wizz Air Chief Executive commented on the results : " The first quarter of F22 remained challenging for the Company as we operated only 33 % of our available capacity as mobility restrictions continued to be a major barrier to international travel during this period . We were focused on cash and delivered a cash flow positive quarter , with a strong liquidity balance of c . € 1.7 billion , including c . € 1.5 billion of free cash - as well as maintaining our investment grade balance sheet . 8.1ppts 14.6 % Through the quarter we did see encouraging recovery patterns in passenger air travel . People began returning to flying despite mobility restrictions still impacting travel . We carried 3.0m passengers during the quarter , more than four times the number we carried in the same period of last year . As the quarter progressed we deployed higher levels of capacity with June operating 62 % of 2019 available seat kilometres . We have now entered a busy part of the summer , ramping up our operations to meet increased demand whilst maintaining operational flexibility to deal with evolving travel restrictions as a result of Covid - 19 developments , particularly with respect to new variants . As we ramp up our operations we continue to be supported by our dedicated crew and colleagues who have demonstrated agility and resilience even in the most uncertain and volatile times of ever changing schedules and expectations . " Commenting on business developments during the period , Mr Váradi added : " We continued to strengthen our network for the future , expanding our Italian market presence further by adding two more bases , in Rome and Naples . Rome , Fiumicino began operating with five new A321 aircraft from July and Naples will have a 2 aircraft operation starting as of August . In Tirana , Albania , we added a 5th A321 aircraft as we continued to see positive results and strong demand for our product and service . We have added leisure routes from our core CEE markets to Mediterranean destinations to meet strong summer demand . Wizz Air Abu Dhabi and Wizz Air UK have been impacted by stricter mobility restrictions , however each has seen gradual improvement in traffic , particularly along travel corridors to destinations on government approved lists . " Wizz Air Holdings Plc On the summer ramp - up and the outlook , Mr Váradi said : " We continued ramping up and growing our operations by recruiting , onboarding and training 600 additional crew . With that we expect aircraft utilization to increase to 10 hours per day , getting closer to our pre - pandemic flying times of 12+ hours per day . In July and August 2021 we expect to operate around 90 % and 100 % of our 2019 capacity , respectively , making Wizz Air the first major European airline to fully recover capacity to pre - Covid - 19 levels . While we remain cautious with making predictions for the winter period amid unpredictable government decision making we are absolutely confident in our much improved competitive positions in the short , mid and long term arising from continuous fleet growth based on new aircraft deliveries , an extended market footprint as well as structural cost advantages arising from fleet up - gauging , improved commercial arrangements with airports and not being trapped in debt burden contrary to the vast majority of the industry . We remain strategically disciplined on cost and we continue our fleet renewal , redelivering two A320CEO aircraft with 180 seats and taking deliveries of six new A321NEOs with 239 seats , that sets our fleet average seat per aircraft at 207 seats . The accelerated renewal of our fleet will continue to benefit Wizz Air versus other competitors on every cost line , including on Fuel CASK even more so in the current environment where carbon - efficiency is increasingly critical . " 1