Wizz Air is braced for another large loss after a year of rising fuel costs and disruptions to the supply chain.
Analysts expect the budget airline to post a loss of around £467 million – though this is lower than its £552 million deficit in 2021.
It is set to return to profit next year, but was hit last summer by soaring jet fuel prices that cancelled out a surge in sales as families raced to go on holiday for the first time after pandemic restrictions were lifted.
Turbulence: Analysts expect the budget airline to post a loss of around £467 million
Analysts also said a ‘flightmare’ of passenger delays, mass cancellations and share price declines hammered airlines and airports in 2022.
Last month it was revealed that Wizz had no fewer than 881 outstanding county court judgements totalling nearly £5 million in refunds owed to disgruntled passengers. It also faces lingering concerns about the treatment of its staff, with one Danish pension fund saying last year it had sold its stake in the airline due to allegations of ‘human and labour rights abuses’.
Wizz was set up by chief executive Jozsef Varadi in 2003.
The airline has since grown rapidly, spreading from its core eastern European markets of Poland, Hungary and Romania into the UK, Italy and other parts of western Europe.
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