Europe’s third largest discount carrier posted a net loss of €453mln for the first fiscal quarter, it revealed in an earnings statement on Wednesday.
The Budapest-based company said it aims to lower summer capacity, by just 5%, amid an industry-wide staffing shortage to reduce the number of delays and cancellations during the peak summer holidays.
Although it intends to raise its summer capacity by roughly 30% compared with pre-pandemic 2019 and anticipates it will deliver “a material operating profit” following continued sales and pricing momentum.
The Budapest-based company insisted disruption levels are beginning to normalise again following its adjustments.
Meanwhile, rival discounter easyJet PLC said Tuesday it lost £133mln in the same quarter on disruption attributed to staff shortages and capacity caps (read more).
Wizz Air shares jumped 6.3% to 2,089.5p.