Posted on: 23 March 2016 by Mark Howells
Wizz Air’s trading update for the fourth quarter and year ending 31 March 2016 shows the carrier will be able to report an underlying net profit for the preceeding 12 months at the top end of the guidance provided at the third quarter interim management statement in January 2016.
József Váradi, Wizz Air’s CEO, remarked, “As Wizz Air approaches the 20 million passengers per year mark the company is again expected to report a strong financial performance for the full year. We have seen strength in all our markets and are expecting to achieve underlying net profit for the full year 2016 at the top end of our guidance range of between €200 million to €210 million. This performance, while also delivering a forecast 21% growth in passenger numbers this financial year, re-affirms the opportunity we see in Central and Eastern Europe.”
Wizz Air intimated the strong financial performance is due to a combination of robust ticket sales, lower fuel costs and strong load factors as well as a continued disciplined approach to cost management.Consequently, it is expected that the Company Wizz Air is expected to report its preliminary results for the year ending 31 March 2016 on 25 May 2016.