Interim report
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Wyzz wizzair.com WIZZ AIR HOLDINGS PLC - RESULTS FOR THE SIX MONTHS TO 30 SEPTEMBER 2021 € 57 MILLION OPERATING PROFIT IN Q2 F22 AND RETURN TOWARDS 2019 CAPACITY LEVELS . CONTINUING INVESTMENTS IN " WIZZ 500 " LSE : WIZZ Geneva , 4 November 2021 : Wizz Air Holdings Plc ( " Wizz Air " , " the Company " or " the Group " ) , the fastest - growing European low cost airline , today issues unaudited results for the six months to 30 September 2021 ( " first half " or " H1 ” ) . This interim financial report does not include all the notes of the type normally included in an annual financial report . Accordingly , this report should be read in conjunction with the annual report for the year ended 31 March 2021 and any public announcements made by Wizz Air Holdings Plc during the interim reporting period . Six months to 30 September Passengers carried ( million ) Revenue ( € million ) EBITDA ( € million ) EBITDA margin ( % ) Loss for the period ( € million ) Underlying loss for the period ( € million ) * RASK ( € cent ) Ex - fuel CASK ( € cent ) Total cash ( € million ) *** Load factor ( % ) Period - end fleet size ** *** 2021 12.5 880.4 164.3 18.7 ( 120.9 ) ( 125.2 ) 3.38 2.75 1,670.4 75.3 144 2020 6.5 471.2 ( 80.9 ) ( 17.2 ) ( 243.1 ) ( 144.9 ) 2.86 2.91 1,559.5 64.3 132 Change 92.7 % 86.8 % n.m . ** n.m . ** ( 50.3 % ) ( 13.6 % ) 18.2 % Underlying loss excludes the impact of hedge gains / losses classified as discontinued resulting from the impact of COVID - 19 . n.m .: not meaningful as variance is more than ( - ) 100 % . Total cash comprises cash and cash equivalents , short - term cash deposits , and current and non - current restricted cash . József Váradi , Wizz Air Chief Executive commented on the results : " The second quarter of this fiscal year marks Wizz Air's return towards 2019 traffic levels as we continue to transition to operational normality and see more people return to flying despite lingering restrictions . Close to 10 million passengers booked a Wizz Air flight in the quarter with load factors around 80 % for the quarter and reaching 84 % in August as our capacity peaked at 98 % of 2019 ASKS in the same month . Our revenue performance was 79 % better than last summer and ex - fuel CASK in Q2 continued to normalize and was only 12 % higher compared to pre - pandemic levels . As a result , we delivered an operating profit of € 57m for the quarter . We closed the quarter with € 1.7bn of total cash , highlighting our ability to manage liquidity well and continue to maintain our investment grade rating . " 1 ( 5.5 % ) 7.1 % 11.0ppt 9.0 % Commenting on business developments , Mr Váradi added : " The Company is executing against its ambition to deliver a 500 aircraft airline before the end of the decade . We have continued to take deliveries during the COVID - 19 pandemic , and additionally we will add 26 aircraft to our summer 2022 fleet ( versus summer 2021 ) via a combination of aircraft deliveries and advanced deliveries from our order book and extending short - term leases at highly competitive terms . With the expansion , our fleet is expected to reach 170 aircraft by the end of H1 F23 , a 52 % ASK increase versus summer 2019. This will allow us to maximally take advantage of market opportunities and next year's peak season . We continue to further strengthen our network . We have increased from 25 bases pre - COVID to 44 bases today , and added 440+ routes in total significantly stepping up our positions in Italy , Ukraine , Albania , UK and , opening our Wizz Abu Dhabi operation . Most recently , we opened two more bases in Italy - Rome and Naples - and we have announced that we will also open our seventh Italian base in Venice , at Marco Polo Airport . A further major expansion has been announced in Ukraine as it signed the Open Skies agreement with the EU at the beginning of October 2021. This major milestone has enabled Wizz Air to increase its investment by deploying seven new A321neo aircraft to its Kyiv and Lviv bases from next summer . With these new allocations , Wizz Air increases its fleet to 11 aircraft in the country , making it the largest airline providing direct seats from Ukraine . Lastly , we are investing in our workforce and are projecting to be a team of 6,700 people by the end of Summer 2022 , up from around 4,000 people pre - COVID - 19 . Wizz has proven itself to be an exciting place to work for our many colleagues around the network , a Company that makes things happen for its employees and the communities it works for . On current trading and the outlook for the full year , Mr Váradi said : " Our investments in network , fleet and people are laying the foundation for the exceptional opportunity we believe F23 will represent . We will have further widened our competitive edge and will be operating a superior fleet from a cost and sustainability point of view in a more diverse and scalable network .