Wizz Air raises 2019 profit guidance



Hungarian low-fare airline Wizz Air has raised the low end of its profit guidance for the end of its 2019 business year on favorable market conditions, Wizz Air said on Wednesday, state news wire MTI reports.

Wizz Air has changed its net profit guidance to EUR 335 million-350 mln from the earlier EUR 320 mln-350 mln.

CEO József Váradi said profit is now expected to be closer to the high end of the guidance range thanks to favorable market trends so they can safely raise the low end of the range.

In the first half of its financial year, ended September 30, Wizz Air had a net profit of EUR 371.5 mln, up 87.1% from the same period of the previous year. Passenger numbers increased by 17.9% during the period to 22.1 million. Per unit costs excluding kerosene prices were down 3% but fuel costs rose 5.3%.


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