Wizz Air reports Q3 profits and traffic

Dino D'Amore
By Dino D'Amore January 28, 2016 21:44

Wizz Air reports Q3 profits and traffic

Wizz Air Holdings reports total revenue increased by 17.3% to €310 million in the three months to Dec. 31, 2015. Ticket revenue was up 12.4% to €187 million during the period, with ancillary revenue up 25.8% to €123 million. Wizz Air’s reported net profit under IFRS was €15.6 million, a decrease of 20.9%, while its underlying net profit was a record €17.2 million, an increase of 376.5%. Wizz Air expects its underlying net profit for the full year to be in the range of €200 million to €210 million.

Wizz Air passenger traffic rose 23.2% to 4.7 million during the third quarter, with a load factor increased of 85.7%, an increase of 1.1 percentage points.

Total unit costs fell by 7.4% to 3.40 euro cents per ASK compared to Q3 2014, with ancillary revenue per passenger increased 2.1% in the third quarter to €26.1 compared to Q3 2014.

József Váradi, Wizz Air Chief Executive said: “Our results in the third quarter have been ahead of expectations with robust trading across all of our markets. In light of this performance and encouraging forward bookings in the fourth quarter the Company today raised its underlying net profit guidance for the full year to a range of between €200 million to €210 million.  We are reporting record underlying Q3 profitability while also delivering 23% growth in passenger numbers which re-affirms the opportunity we see in Central and Eastern Europe.

“The third quarter also saw a number of key milestones for Wizz Air as we position ourselves for further growth. We took delivery of our first two A321ceo aircraft and completed the order for 110 Airbus A321neo aircraft.  We also signed our largest ever lease agreement for 11 Airbus A321ceo aircraft.  These larger and more fuel efficient aircraft will underpin our growth plans for the next decade and ensure that we maintain our industry leading ultra-low cost base.”

Dino D'Amore
By Dino D'Amore January 28, 2016 21:44