Wizz Air to announce higher than expected profits
Budget carrier Wizz Air announced today that it expects to make a net profit of €200 million to €210 million this year.
In a trading update for the fourth quarter of the year to the end of March, it said the strong performance delivered in the first nine months had continued.
It said strong sales combined with lower fuel costs, strong loads and ‘a disciplined approach to cost management’ had led to a stronger than expected financial performance.
The airline said profits would be at the top end of guidance provided in the third quarter management statement in January.
Chief executive Jozsef Varadi said: "As Wizz Air approaches the 20 million passengers per year mark the Company is again expected to report a strong financial performance for the full year.
"We have seen strength in all our markets and are expecting to achieve underlying net profit for the full year 2016 at the top end of our guidance range of between €200 million to €210 million.
"This performance, while also delivering a forecast 21% growth in passenger numbers this financial year, re-affirms the opportunity we see in Central and Eastern Europe."
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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