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Wizz Air profit, excluding one-offs, climbs 67%

Transport

LaMography

Net profit of Hungarian low-cost airline Wizz Air, excluding exceptional items, saw a rise of 67%, reaching € 146 mln in its fiscal year ending March 31, an earnings report released today reveals.

The report says that unadjusted net profit increased 109% to €183 mln, revenue climbed 21% to €1.23 bln, with revenue from ticket sales reaching €794 mln. Ancillary revenue climbed to €434 mln, the report added.

Total operating costs were up 18% at €1.06 bln, while the company booked a net financial gain of €24 mln, improving over a financial loss of €14 mln in the base period.

In the last business year the company expanded its fleet with nine aircraft to 55. Passenger numbers rose by 18% to 16.5 million and load factor climbed 1 percentage point to 86.7%.

For the upcoming business year, Wizz Air expects capacity, both in terms of seats flown and Available Seat Kilometers, to grow by approximately 17%. It sees a "modest rise" in load factor and expects passenger numbers to reach 19.4 million.

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