Wizz Air profit up despite Brexit

Full-year profit increased 28% to €246 million
Fast-growing Eastern European low-cost carrier Wizz Air has posted higher annual revenues and profit and says it is not yet seeing an impact from the UK’s vote to leave the European Union.
Full-year profit rose 28% to €246 million for the 12 months ended March 31, on revenues of €1.57 billion, up 10%. Pre-tax profit increased to €255.8 million.
Passenger numbers climbed 19% to 23.8 million and load factor was up 1.9 percentage points to 90.1%.
There are no signs that demand has weakened on routes to or from the UK, the airline said, despite Brexit. The carrier estimates it lost €17 million due to the pound’s currency fluctuations but this was absorbed by the rest of its diversified route network. The company is looking at 2018 net profit of between €250 million and €270 million.
DigitalLook / MarketWatch


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