Wizz Air announces its H1 results, while shareholders confirms its A321 order

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By TESTCustomwebLP TESTCustomwebLP November 5, 2015 17:49

Wizz Air announces its H1 results, while shareholders confirms its A321 order

Wizz Air has reported a 15% increase in total revenue to €836.4 million during the first half of 2015. Ticket revenues increased 11.6% to €544.6 million and ancillary income grew 21.9% to €291.8 million. Ancillary revenue per passenger increased 1.3% to €27.4 for the first half.

Total unit revenue declined 1.7% to 4.64 euro cents per available seat kilometre (ASK) in H1.

Reported (IFRS) net profit was €182.1 million, an increase of 15.2%. Underlying net profit was a record €205.9 million, an increase of 34.2%.

Wizz Air management’s expectation of an underlying net profit for the year ending 31 March 2016 (F16) in the range of €190 million to €200 million remains unchanged. This implies an underlying loss of between €6 million and €16 million in the second of F16, broadly in line with the H2 F15 loss of €7m.

Meanwhile, Wizz Air shareholders have approved the proposed purchase of 110 Airbus A321 neo aircraft.

József Váradi, Wizz Air Chief Executive said: “We welcome the approval of our shareholders of this important transaction which means we can continue to build on our strong market position in Central and Eastern Europe. The new aircraft will enable us to sustain our cost advantage through cabin innovations, the latest engine technology and other efficiency improvements, while enhancing our customer offering and experience. The agreement with Airbus also provides significant flexibility to match our fleet to our growth requirements.”

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By TESTCustomwebLP TESTCustomwebLP November 5, 2015 17:49