The Hungarian low-cost airline, Europe’s fastest-growing one, today provided an update on its first-quarter results ahead of its Q1 F23 earnings release on 27 July 2022. In the announcement, they shared their plans on how they would like to address the sector’s problems. These are the strikes challenging every European airport, the flight delays and cancellations we reported many times and the labour shortage. Below you may read their announcement.
According to the company’s statement, Wizz Air continued to ramp up its operation against a challenging macro and operational backdrop.
Despite the factors impacting Q1 F23, the Company is expecting a material operational profit in the second quarter of the FY (July – September) as revenue and pricing momentum is expected to continue to improve, as we highlighted during the full year results release.
further improved the agility and resilience of our network including adjusting schedules where we have seen a higher occurrence of issues (e.g. slot allocation issues, turn-around timings).
In total for the peak summer period we expect to reduce utilization a further 5% versus the plan outlined at the full year results to reduce the impact of ongoing external disruptions. We now expect summer ASK growth to be around 35% versus F20.
Source: Press release/ir.q4europe.com/Solutions/WizzAir