Wizz Air passenger numbers fly high

Low-cost airline Wizz Air said it carried 4.7 million passengers in the three months to December 31, an increase of 23 per cent over the same period in 2014, as the Hugarian airline said its results in the third quarter were ahead of expectations.
By The Newsroom
Published 27th Jan 2016, 10:16 BST
Updated 27th Jan 2016, 10:19 BST
A Wizz Air flight to Robin HoodA Wizz Air flight to Robin Hood
A Wizz Air flight to Robin Hood

Total revenue increased 17.3 per cent to £236m, while ticket revenue was up 12.4 per cent to £142m. The group said Ancillary revenue grew 25.8 per cent to £93m.

Underlying net profit at the airliner was a record £13m, an increase of 376.5 per cent. Wizz Air said it now expects underlying net profit for the full year to be in the range of £151m to £159.5m.

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József Váradi, chief executive of Wizz Air, 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 €200m to €210m.

“We are reporting record underlying Q3 profitability while also delivering 23% growth in passenger numbers which re-affirms 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.”

The group said lower fuel prices continue to feed through to lower air fares.

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