News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Wizz Air warns of more losses before rebound

01/26/2022 | 06:29am EDT

Wizz Air has warned of more tough times before its recovery can take off.

The budget airline said Wednesday (January 26) it expected fourth-quarter losses to be worse than Q3's $241 million.

It blamed the resurgent health crisis for putting travelers off, and expected it to affect demand in the coming months.

Wizz and other budget airlines have endured a tough 12 months.

They have faced governments changing restrictions all year.

Wizz is now looking towards Britain to help fuel its recovery.

It said demand there had jumped since the government announced an easing of controls.

The Hungarian firm is also optimistic about the outlook for later this year, and has acquired more landing slots to be ready for any recovery.

That should help it compete with rival Ryanair.

The Irish airline said earlier this month it had seen traveler confidence levels improve in recent weeks.

But Ryanair warned it expected fares to rise for budget airlines due to lower available capacity.

Wizz Air shares were up around 4% in early trade.

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
RYANAIR HOLDINGS PLC 0.24% 14.74 Real-time Quote.-3.57%
Latest news "Economy & Forex"
05:52pUKRAINE AND RUSSIA : What you need to know right now
05:46pUKRAINE AND RUSSIA : What you need to know right now
05:41pThe WSJ Dollar Index Falls 1.18% to 94.31 -- Data Talk
05:40pEuro Gains 1.62% to $1.0736 -- Data Talk
05:40pDollar Lost 0.60% to 127.11 Yen -- Data Talk
05:40pSterling Gains 1.11% to $1.2632 -- Data Talk
05:39pTechnology Shares Climb as Investors Embrace More Risk -- Tech Roundup
05:38pRobinhood agrees to settle customer lawsuit over 2020 outages
05:37pFinancial Shares Move Higher as EY Considers Split -- Financials Roundup
05:34pJury deliberations in Depp, Heard case to resume on Tuesday
Latest news "Economy & Forex"