WZZAF - Wizz Air Holdings slides on 75% passenger decrease in 2021; focuses on cost cash recovery in 2022

Wizz Air Holdings ([[WZZAF]] -3.2%) reported FY revenue decline of 73% Y/Y to €739M.ASKs and passenger numbers both declined 63.5% and 74.6% respectively Y/Y.Passenger ticket revenue declined by 78% Y/Y to €325.7M; to make up 44% of total revenue.Ancillary revenue declined by 67% Y/Y to €412.6M; representing 56% of total revenue.Expanded from 25 to 43 operating or announced bases, which inherently increases flexibility and continuously realigned capacity with ever-changing restrictions, ramping up to 80% capacity in the span of weeks over summer 2020 and then down to 20% only weeks later.Load factors were markedly down compared to F20 at 64%, while average revenue/passenger improved by 5.2% to €72.6 in F21.Total cash at the end of March 2021 was €1,617M of which €169.1M was restricted cash and €346.8M were cash deposits with a maturity of more than 3 months.Also, expect to fly around 30% of its capacity in Q1 of F22

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Wizz Air Holdings slides on 75% passenger decrease in 2021; focuses on cost, cash recovery in 2022