Wizz Air net profit down 21%, pax numbers up 23%

Telco

LaMography

Net profit of Hungarian low-cost airline Wizz Airʼs was down by 21%, €15.6 million, in the third quarter of its business year ending on March 31, Hungarian news agency MTI reported today, citing an earnings report by the company. However, the airlineʼs passenger numbers were up 23% at 4.7 million.

Underlying net profit, excluding unrealized FX gains and losses as well as exceptional items, jumped 377% to €17.2 mln, according to MTI. Wizz Air raised its guidance for full-year underlying net profit to €200-210 mln, the news agency added.

The company’s revenue was up by 17% to €310.5 mln, while turnover from ticket sales increased 12% to €187 mln, MTI said, adding that its net debt to EBITDAR ratio fell to 1.41, down 29%.

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