Wizz Air confident of profit forecasts

Carrier predicts underlying net profit of €210 million
Wizz Air has told investors that it will hit the top end of its profit forecasts when it unveils full-year results on May 25.
The Budapest-based budget airline is predicting an underlying net profit for the year to the end of March near to €210 million. In a trading statement, the carrier said that a “strong financial performance” in the first nine months of this financial year had continued into the fourth quarter.
“A combination of robust ticket sales, lower fuel costs, strong load factors, and our continued disciplined approach to cost management has once again led to a stronger than expected financial performance,” the airline said.
In January, Wizz Air, which is close to carrying 20 million passengers this year, had told investors that the figure would be between €200 and €210 million. Its chief executive Jozsef Varadi said: “This performance, while also delivering a forecast 21% growth in passenger numbers this financial year, reaffirms the opportunity we see in Central and Eastern Europe.”
Wizz Air currently operates a fleet of 66 Airbus A320 and A321 aircraft. Launched in 2004, it now offers 420 routes from 24 bases in continental Europe covering 119 destinations in 38 countries. It recently moved a little away from the no-frills formula by introducing extras including seat allocation and priority boarding.
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