27th Jan 2016 07:51
LONDON (Alliance News) - Eastern Europe-focused low-cost airline Wizz Air Holdings PLC on Wednesday said it carried more passengers and generated more revenue in its third quarter year-on-year, while it also upgraded its underlying profit estimate for the year as trading continued to prove strong.
The FTSE 250-listed carrier said it now expects its underlying net profit for the full year to the end of March to be EUR200.0 million to EUR210.0 million. The underlying numbers strip out currency translation and one-off items and were upgraded from its previous guidance for EUR190.0 million to EUR200.0 million.
For the quarter to the end of December, Wizz Air said it carried a total of 4.7 million passengers, up from 3.8 million a year earlier, with total revenue rising to EUR310.5 million from EUR264.6 million. Its load factor for the quarter improved to 85.7% from 84.6% and total unit costs fell, primarily thanks to lower fuel costs amid the fall in world oil prices.
Wizz Air said its order book for the fourth quarter of its financial year also looks strong, hence the upgrade to its underlying profit estimate.
"Our results in the third quarter have been ahead of expectations with robust trading across all of our markets," said Chief Executive József Váradi.
By Sam Unsted; [email protected]; @SamUAtAlliance
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