Wizz Air reports third quarter earnings

Eleanor Steed
By Eleanor Steed January 31, 2018 12:19

Wizz Air reports third quarter earnings

Wizz Air Holdings total revenue increased by 24% to €422.9 million in the three months to 31 December 2017. For the company as a whole, including the airline and Wizz Tours, ticket revenues increased 26.1% to €241.7 million, while ancillary revenues grew 21.3% to €181.1 million. Profit for the period was a record €14.0 million in Q3, a year on year increase of 3.6%. Total cash at the end of December 2017 was €1,143.8 million of which €975.1 million was free cash.

The airline’s total unit revenue increased 1.3% to 3.35 euro cents per available seat kilometre (ASK), while total unit costs increased 2.4% to 3.23 euro cents per ASK. Ex-fuel unit costs were unchanged at 2.29 euro cents per ASK, while fuel unit costs increased 8.8% to 0.94 euro cents per ASK. Load factors increased 1.4 percentage points to 89.4%. Passengers carried increased 24.3% to 7.1 million.

Following the purchase of additional slots in London-Luton, Wizz Air will base seven aircraft in London-Luton in 2018. The company has applied for a UK Air Operator’s Certificate (AOC) and Operating Licence.

Eleanor Steed
By Eleanor Steed January 31, 2018 12:19