Wizz Air Holdings PLC (AIM:WIZZ) has already anticipated a net loss for the full year, though Thursday, 8 June’s results should shed light on the budget airline’s recovery from a spate of service issues.
Wizz is still exposed to some £5mln of unpaid refunds due to delays and cancellations, which saw it dubbed the latest airline from UK airports in April, according to Hargreaves Lansdown analyst Aarin Chiekrie.
Regardless of the title, Wizz scored a near-60% rise in passengers to 12.4mln people during the third quarter, prompting revenue to more than double year-on-year to €911.7mln.
“It’ll be interesting to see if low costs continue to trump poor service,” Chiekrie commented, “especially as consumers’ disposable incomes remain stretched by the cost-of-living crisis”.
Wizz has somewhat managed to improve its service in recent months, Chiekrie acknowledged, which should lead to fewer disruption costs than previous quarters.
FTSE 250-listed Wizz already predicted a net loss for the year in a third-quarter update but reassured this summer should see a return to pre-pandemic trading levels, paving the way to a profitable 2024.