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Wizz Air results set for flyby on quiet Wednesday


The middle point of the shorter Bank Holiday week is set to be rather quiet as far as company and macro news is concerned, with final results from budget airline Wizz Air the headline event in the dairy.

Aside from Wizz, Harry Potter publisher Bloomsbury will also be delivering finals, while the macro diary will see a sprinkle of data in the form of mortgage figures from both the UK and the US.

Wizz Air numbers come in for landing

Full-year results from Wizz Air Holdings PLC (LON:WIZZ) cover the period to the end of March, which is roughly the entire period that the western world was struggling to get to grips with the coronavirus pandemic.

As such, it has been a year to forget for the low-cost airlines, which is expected to announce a loss before interest and tax of €473mln on sales of €710mln (down from sales of €2.76bn the year before).

The company has already warned the market that its post-tax loss is likely to between €570mln and €590mln.

The focus is likely to be on current trading and the forward bookings for the crucial summer schedule, while the company is sure to emphasise its balance sheet strength as it hangs in there in the hope of better times.

Significant announcements for Wednesday June 2:

Finals: Wizz Air Holdings PLC (LON:WIZZ), Bloomsbury Publishing PLC (LON:BMY)

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