15 April 2021 | 07:33am
StockMarketWire.com - Wizz Air has said it is expecting to report a net loss of €570-590 million and a full year underlying loss of €475-495 million for F21, as it continues to battle the impact of the Covid-19 pandemic and the ongoing uncertainty surrounding travel restrictions.
In a post-close trading update, the company said the only exceptional item the loss related to discontinued fuel hedges, amounting to an estimated €95 million.
Wizz Air maintains its investment grade balance sheet and strong liquidity position with a total cash / cash equivalents balance of €1,615m at year-end.
The total cash burn in the fourth quarter was €87m (compared versus the pro-forma cash position of €1,702m at the end of Q3, taking the €500m three-year bond proceeds of January 2021 into account).