Wizz Air swings to a loss of £489m as pandemic batters airline industry

Wizz Air swung to a loss of £489m in the last 12 months, from a pre-tax profit of £254m as the airline industry was battered during the Covid-19 pandemic.

Wizz Air swung to a loss of £489m.

The company 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.

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"Wizz Air's (annual) revenue was down 73 per cent.

"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 UK restarted flights from Doncaster Sheffield Airport last week, following the UK Government’s lifting of the ban on international travel.

Chris Harcombe, director of aviation development at Doncaster Sheffield Airport, said: “We’re seeing plenty of pent-up demand from passengers keen to get away on a much-needed holiday in the sun and visiting loved ones abroad.

“We’ve been working closely with our operators to ensure the safe return of air travel and with a number of flexible products available including a testing facility on-site, we’re pleased that customers can book their holiday with confidence. We’re looking forward to a positive recovery and a bright year ahead.”

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