Wizz Air chief blames lack of consumer confidence for fall in profits

Jozsef Varadi, chief executive of Wizz Air, has pointed to a lowering of consumer confidence for the fall in profits for the airline as well as added costs from higher fuel prices and expansion. Pre-tax profits fell by 90% to €1.8million in the three months to December compared to €14.6million in the prior-year period. Revenue rose by 21% to €512.7million, with revenue per available seat kilometre up by 5.6%. Cost per available seat kilometre rose by 9.3% including fuel, and 4.3% without fuel. There was a 22% increase in staff costs. Although the full year profit guidance remained at €270