Wizz Air net profit up 22%

Hungarian low-cost airline Wizz Airʼs net profit rose 22% to EUR 275 million in the business year ending March 31, 2018, a financial report published on the companyʼs website shows. Revenues rose 24% to EUR 1.9 billion.

The rise in revenues was attributed to higher passenger numbers and a 24% rise in ancillary revenues. The latter amounted to EUR 816 mln, accounting for almost 42% of the total, national news agency MTI reported.

Passenger numbers rose 25% to 30 million during the business year, as a result of which Wizz Air held its position on the Central and East European market with a 42% market share.

The company added 14 aircraft to its fleet during the period, bringing the total number of aircraft to 93, and improved its load factor from 90.1% to 91.3%.

Wizz Air projects net profit of EUR 310-340 mln in the current 2018-19 business year.

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