Wizz Air (LON: Wizz) reported 243.3 million euros (£229 million) for the six months ended September 30, 2020.
Budget airlines had 70% of passengers in a period of less than 22.1 million in the same period last year.
Group revenues also fell 71.8%, down from 1,670.8 million to 471.2 euros.
József Váradi, CEO of Wizz Air, commented on the results: “Wizz Air was clearly ahead of the industry in the second quarter of this fiscal year, with 5.8 million passengers at a load factor of 66% and 72% of its capacity in 2019, moving forward in travel control across all markets.
“Our supplementary revenues are driven by the resilient performance of our core products and continue to grow per passenger. At the same time, our disciplined cost management has allowed us to maintain our investment gradual balance sheet at a total of 1.6 billion euros.”
Wizz Air warns that next year’s quarter will likely be “challenging” amid a decline in travel season and travel restrictions.
“Despite the challenges ahead of us over the rest of the year, we have laid the foundation for a rapid recovery. In addition to expanding into new markets, we intend to maintain our entire current staff base, thereby creating a head start when demand comes back,” Váradi said.
“We are confident that we will be showing up as structural winners, and wezair will enable profitable growth over the next few years.”
Over the past six months, airlines have achieved significant expansion, adding 13 new bases, as well as 29 aircraft.
Wizz Air Shares (LON: Wizz) has dropped by 10% from the February year of 4,526.00p. They have been recovering mostly since then and are currently trading at 3,498.00p (0815GMT).
