- 29 Jan 2021 7:30 AM
- Hungary Around the Clock
The amount of cash held by the company dropped by 20% to €1.2 billion, which is still considerably high, Portfolio observes.
Revenues dived by 77% to €150 million, while ebitda showed a loss of €41 million, down from a €131 million profit in the same period of 2019.
The load factor or seat occupancy rate shrank from 96% to 63%.
Wizz Air is now aiming to strengthen its market position and maintain its liquidity, as government restrictions continue to hinder travel, CEO József Váradi commented.
The airline issued €500 million of debt in a three-year bond in January, the company’s first bond issue.
Wizz Air has prepared for the post-Covid era by opening 14 new bases and launching new subsidiary Wizz Air Abu Dhabi, Váradi added.