Wizz Air raises profit forecast after strong Christmas

Wizz Air raises profit forecast after strong Christmas

Wizz Air today raised its annual profit guidance to between €200 million and €210 million after a strong Christmas period.

The eastern and central European low-cost carrier said results for the third quarter to December 31 were ahead of expectations with an underlying net profit up to €17.2 million from €3.5 million in the same period a year earlier.

Revenue for the three months was up by 17.3% to €310 million as passengers carryings rose by more than 23% to 4.7 million.

Ticket sales grew by 12.4% to €187 million and ancillary revenue jumped by a quarter to €123 million.

Total unit costs fell by 7.4% despite the fleet size increasing to 65 aircraft including two larger 230-seat new generation Airbus A320neos.

The airline plasn to add a total of 110 A320neos and 11 A321ceo aircraft. 

Chief executive, József Váradi, said: "Our results in the third quarter have been ahead of expectations with robust trading across all of our markets.

“In light of this performance and encouraging forward bookings in the fourth quarter the company today raised its underlying net profit guidance for the full year to a range of between €200 million to €210 million. 

“We are reporting record underlying third quarter profitability while also delivering 23% growth in passenger numbers which reaffirms the opportunity we see in central and eastern Europe.    

“The third quarter also saw a number of key milestones for Wizz Air as we position ourselves for further growth.

“We took delivery of our first two A321ceo aircraft and completed the order for 110 Airbus A321neo aircraft.  We also signed our largest ever lease agreement for 11 Airbus A321ceo aircraft. 

“These larger and more fuel efficient aircraft will underpin our growth plans for the next decade and ensure that we maintain our industry leading ultra-low cost base."


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