Wizz Air smashes profit forecast
Budget carrier Wizz Air made a higher-than-expected profit of €224 million last year following a 16% increase in revenue to €1.44 billion and a 5% drop in unit costs.
Its results were even better than it forecast two months ago, when it said it expected net profits to be between €200 million and €210 million.
The Eastern European airline made a €1 million profit in the last quarter, which compared to a €11 million loss in the final quarer of the last financial year. This year’s results were boosted by the early Easter, which fell in the last quarter.
Wizz Air carried 20 million passengers during the year, up 21% on the previous 12 months.
Ticket revenues rose to €895 million while ancillary revenue was up 23% to €534 million. Passengers spent an average of €27 each on extras such as inflight food and drink and baggage.
Wizz Air launched 69 new routes last year when it opened four new operating bases. Three new bases will open this year, in Romania and Georgia.
It has an agreement to buy 110 Airbus A321neo aircraft.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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