Wizz Air revenues up 12.7% in first quarter

In the first quarter of the 2015 financial year (1Q15), Wizz Air carried 4.9 million passengers, a 20.3% increase compared with the same period in 2014 (1Q14) and generated revenues of €332.5 million, a rise of 12.7% over the €295.2 million made during 1Q14.
Wizz Air’s 1Q15 figures show 7,473,531,000 revenue passenger kilometres (up 19.6% on 1Q14) against 8,413,329,000 available seat kilometres (up 17.4% on 1Q14), which meant the airline’s load factor for the period was 88.8%.The average revenue per passenger fell from €72.8 in 1Q14 to €68.2 in 1Q15, a decline of 6.3%. This was a result of the average ticket revenue per passenger decreasing from €47.6 in 1Q14 to €42.2, a decline of 11.3%, being offset by the average ancillary revenue per passenger increasing by 3% from €25.2 in 1Q14 to €26.0 in 1Q15.The positive load factor meant overall passenger ticket revenue increased 6.7% to €205.9 million whilst ancillary income increased by 23.9% to €126.6 million. A fall in total unit costs of 3.3% and a fall in fuel unit costs of 5.6% also helped.During 1Q15, Wizz Air opened two new bases and launched 22 new routes, whilst adding seven new aircraft to its fleet (making 62 Airbus A320s in total).“The first quarter has been an exciting period for Wizz Air. We have continued to grow our network and increase our passenger numbers throughout the period while maintaining an industry leading, ultra-low cost base. Today we are pleased to announce a record set of results for the first quarter with a strong performance against all key operating and financial performance measures,” commented József Váradi, Wizz Air’s CEO.“We continue to deliver against our ambition to make safe, reliable, affordable air travel available to everyone in Central and Eastern Europe. Our ultra-low cost model gives us a clear cost advantage versus most of our rivals, including many other low-cost airlines, and as a result we are able to offer our passengers low fares and sustain a relatively high growth rate compared to other carriers. We have a strong balance sheet, proven management team, best-in-class fleet and leading market position in CEE. This winning formula leaves Wizz Air well placed to continue to deliver significant growth and returns for our shareholders,” Váradi concluded.In terms of the rest of the 2015 financial year, Wizz Air says forward bookings indicate robust demand for the important peak summer period and as a result underlying net profit for the full year is now expected to be in the range of €175 million to €185 million (a €10 million increase versus previous guidance).

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