Wizz Air

Wizz Air CEO Jozsef Varadi sees only limited advantages for Wizz Air from the looming insolvency of airBaltic and expects further European airline bankruptcies due to high fuel prices. Airlines without fuel-price hedges face significant liquidity problems from rising oil prices. Wizz Air has hedged 80% of its fuel needs for the next 12 months at roughly half the market price and is expanding capacity into Italy, Romania and Albania. » Więcej na de.investing.com

Wizz Air reports 103,529,016 issued ordinary shares as at 31 August with a nominal value of £0.0001 and one voting right per share. Since the last review, 13,965 non-forfeitable options have been exercised, mainly from the LTIP programme. Theoretically fully diluted share capital amounts to 127,928,762 shares, including potential new shares from convertible bonds and outstanding employee options. The disclosure was made in accordance with the Disclosure Rules of the UK Financial Conduct Authority and the new shares were admitted to trading under ISIN JE00BN574F90. » Więcej na de.investing.com

Wizz Air posted a loss after tax of €198m in the first quarter, weighed mainly by roughly €100m higher fuel costs. RASK fell by about 8%, while ASK rose by around 20% and seat capacity increased by about 25%. The company reports liquidity of €2.3bn and expects unit revenues to improve in Q2 with only a low single-digit RASK decline. The stock fell about 5% pre-market; investors see risks in fuel costs, GTF engine restrictions and higher depreciation and maintenance costs. » Więcej na de.investing.com