The Hungarian website portofolio.hu, quoting a Czech newspaper is saying that Wizzair had an operational loss of 9.5 million euro in 2008. From the moment Wizzair started the operations the company have never announced their financial results. The Czech newspaper is the first who revealed some economical data of the airline.

No-frills airline Wizz Air has had almost EUR 10 million in consolidated losses in the 2009 fiscal year, a Czech newspaper claimed. The management commented only as much as the Hungarian subsidiary was profitable, however the Ukrainian and Bulgarian branches were generating losses.

Discount airline Wizz Air has accumulated losses on a major scale, contrary to its widely communicated message that the company has broken even and is generating profit, Reuters reported, citing the website of Czech newspaper Mlada Fronta Dnes. The latter claims Wizz Air has had EUR 9.5 million in losses in the last fiscal year of 2008/2009, which compares with EUR 2.6 million loss a year earlier.

During its five years of operation, Wizz Air has never made a profit, with losses totalling EUR 78 million. Vice President John Stephenson first refused to comment, then told the newspaper that the Hungarian subsidiary is profitable while the Bulgarian and Ukrainian branches have not yet broken even.
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In the same time, the Mlada Fronta Dnes Czech online newspaper said that the debt has increased to  almost 74 millions euros (from March 2009 – the end of fiscal year 2008 – till September 2009). No mater what the airline increased it routes number and the flights load factor grew with some percents in comparison with year 2008.

The debt increase can come from the new bases that Wizzair sated up during the last 12 months and because of the entering of Ukrainian and Bulgarian markets.

WizzAir vice president John Stephenson first declined to comment, Napi Gazdasag said, and then said the Hungarian unit was profitable and only the Ukrainian and Bulgarian companies were loss-makers.

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The Czech newspaper explained the investigation by the fact that SkyEurope went bankrupted at the end of the summer leaving thousands of passengers with no refund and no other flight ticket and that this situation should be avoid.

Wizzair has three basses in Romania – in Bucharest, Cluj and Timisoara – operating flights to a total of 17 European destinations.

SkyEurope went bankrupted at the end of august, after announcing a total loss of almost 60 millions euro for the fiscal year of 2008 (march 2008 – march 2009).

Also, another low cost airline, the Italian flag carrier MyAir,  went bankrupted with a total loss of 200 million euro (instead of the 20-30 millions announced by the airline officials). For the moment MyAir officials are trying to relaunch the airline with the financial help of some external sources.