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Wizz Air warns of more losses in 'transition year'


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PARIS (Reuters) -European budget airline Wizz Air warned of further losses in its current financial year, amid a slower-than-expected recovery from the COVID-19 pandemic.
The ultra-low cost carrier faces another transition year as travel curbs linger on, Chief Executive Jozsef Varadi said on Wednesday, as the company posted a 576 million euro ($703 million) net loss for the 12 months ended March 31.
Unless we see an accelerated and permanent lifting of restrictions we expect a reported net loss in full-year 2022, Varadi said.
Despite the uncertainty, Wizz and low-cost peers such as Ryanair have used the crisis to add new routes as traditional airline rivals retrench. The Hungarian carrier now has 43 aircraft bases operating or announced, compared with 25 before the pandemic. ....

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Wizz Air : Top Wizz Air shareholder to sell up to 400 million pounds worth of stock


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(Reuters) - Wizz Air s largest shareholder, Indigo Partners LLC, is planning to sell up to 400 million pounds ($555.56 million) worth of shares in the Hungarian low-cost airline, Barclays Bank said on Monday.
Private Equity firm Indigo Partners owns 15 million shares, or a 17.5% stake, in Wizz Air as of Monday, said the bank, which is acting as the global coordinator on the deal.
Based on the last closing price of Wizz Air shares, Indigo Partners stake in the airline amounts to about 825 million pounds.
Airlines and travel companies are desperate for a vaccine-led summer recovery after the COVID-19 pandemic wiped out most of their revenues for close to a year. ....

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