StockMarketWire.com - Budget carrier Wizz Air booked a deeper first-quarter loss as the pandemic and associated travel restrictions continue to hammer the aviation sector.

Net losses for the three months through June amounted to €114.4 million, compared to year-on-year losses of €108.0 million.

Passenger volumes improved to 2.95 million, up from 0.71 million, but were still relatively low on a historical basis.

'The first quarter of the 2022 financial year remained challenging for the company as we operated only 33% of our available capacity as mobility restrictions continued to be a major barrier to international travel during this period,' chief executive Jozsef Varadi said.

'Through the quarter we did see encouraging recovery patterns in passenger air travel.'

'People began returning to flying despite mobility restrictions still impacting travel.'

'We have now entered a busy part of the summer, ramping up our operations to meet increased demand whilst maintaining operational flexibility to deal with evolving travel restrictions as a result of Covid-19 developments, particularly with respect to new variants.'


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