Wizz Air sinks to 115 million euro loss in third quarter By Reuters

LONDON (Reuters) – Hungarian airline Wizz Air sunk to a 114.5 million euro quarterly loss on Thursday, after a second wave of COVID-19 spread across Europe limiting travel and said capacity would be depressed until March.

Wizz said its revenue fell 76.5% to 149.9 million euros in the three months ended Dec. 31, its third quarter, on passenger numbers that were down 77% compared to last year.

Hungary-based Wizz Air, which in recent years has expanded from eastern into western Europe, has a stronger balance sheet than many competitors, putting it in a better position to withstand the crisis.

The airline vies with Europe’s biggest carrier Ryanair for the title of lowest-cost player.