Wizz Air ups FY15 profit guidance after successful 3Q15

After Wizz Air’s total revenue for the third quarter of its 2015 financial year (3Q15) increased by 17.3% to €310.5m from €264.6m in 3Q14, the airline has stated its underlying net profit for the full year (FY15) is now expected to be in the range of €200 million to €210 million.Wizz Air carried 4.7m passengers during 3Q15, an increase of 23.2% on the third quarter of 2014, which resulted in a load factor increase of 1.1 percentage points from 84.6% to 85.7% year-over-year.The successful quarter also saw Wizz Air increase ticket revenue by 12.4% year-over-year to €187m, while ancillary revenue grew an even more impressive 25.8% to €123 million across the same respective periods – ancillary revenue per passenger increased 2.1% to €26.1. Compared to 3Q14, total unit costs fell by 7.4% to 3.40 euro cents per available seat kilometre.Wizz Air’s underlying net profit for 3Q15 was a record €17.2 million, an increase of 376.5% from 3Q14.“Our results in the third quarter have been ahead of expectations with robust trading across all of our markets,” declared József Váradi, Wizz Air’s CEO. “The third quarter also saw a number of key milestones for Wizz Air as we position ourselves for further growth. We took delivery of our first two A321ceo aircraft and completed the order for 110 Airbus A321neo aircraft. We also signed our largest ever lease agreement for 11 Airbus A321ceo aircraft. These larger and more fuel efficient aircraft will underpin our growth plans for the next decade and ensure that we maintain our industry leading ultra-low cost base.”The carrier’s Wizz Discount Club membership reached 700,000 during 3Q15, a year-on-year growth of 22%.

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