According to Hungarian
portfolio.hu MOL has officially declared war on Wizzair.
"The loss-making Wizz Air will not be able to compete with Ryanair either in prices, or costs or precision," O’Leary said. Should Wizz Air continue to battle, Ryanair will offer prices 50% lower than its rival at all times, he added. To demonstrate Wizz Air’s losses, he presented the carrier’s 2011 numbers showing a EUR 8.7 m net loss for last year.
These numbers were shown in Hungarian only. If you think thank Hungarian and Finnish languages are similar, you're wrong. They are only very distant "cousins" - yet I've translated the table for you, hopefully in a right way:
Wizzair results according to Ryanair ...
Bevetel = Income (sales)
Bruttó fedezet = Gross profit
Muködesi eredmény = Operating result
Pénzügyi eredmény = Financial result
Adózas elotti eredmény = Pre-tax result
Netto eredmény = Net result
(I know, an economist would correct a bit here)
It was an interesting moment at the press conference when the company distributed the annual report (for the financial year ended on 31 March 2011) of Wizz Air Holdings (registered on the Channel Islands in 2009). With the rival’s numbers in hand O’Leary tried to persuade the press that Wizz Air will not be able to compete with Ryanair. The CEO said, for instance, that while they do not have to make deposits when ordering an aircraft from the manufacturer Wizz Air must.
The document also shows that at the end of March last year Wizz Air had EUR 82 m in cash and an additional EUR 22 m earmarked cash stock, and that it also had a EUR 32.7 m liability in form of an inter-company loan.