Wizz Airʼs profit flies high in H1

Tourism

The after-tax profit of Hungary’s low-cost airline Wizz Air saw a year-on-year rise of 15.2%, to €182 mln, in the first half of its 2016 business year, which began on April 1, according to an earnings report issued by the airline today.

Due to passenger numbers climbing by 20.4% to 10.65 million, the airlineʼs total revenue saw a y.o.y. increase of 15% in the period, reaching €836 mln, the report shows. In the first half, load factor saw a 1.6 percentage point increase, reaching 90.7%, the report added.

Although fuel costs and costs per available seat kilometer were both lower by 22.1% and 5%, respectively, total operating expenses of the company still saw a rise of 11.1% to €623.7 mln. The rise was due to higher staff, maintenance, aircraft rental and marketing costs together with higher airport charges, the report reveals.

By the end of its financial year, the airline predicts a €190-200 mln underlying net profit, while the company left its annual forecast unchanged.

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