Profits rocket at low-cost carrier
Low-cost carrier Wizz Air saw its underlying profit rocket 377% in the three months to December 31.
Total revenue for the quarter was up 17.3% to €310 million, made up of €187 million in ticket sales and €123 million of ancillary revenue.
Net profit was down 20.9% to €15.6 million but underlying net profit was €17.2 million, a rise of 376.5%.
Passenger numbers during the third quarter were up 23% to 4.7 million.
The airline’s load factor went up from 84.6% to 85.7%
Wizz Air added 19 routes in the third quarter to Hungary, Lithuania, Macedonia, Poland, Romania and Serbia. It also opened its 22nd base, in Debrecen in Hungary. It will open its 23rd, in Iasi in Romania in July.
Chief executive József Vradi said: "Our results in the third quarter have been ahead of expectations with robust trading across all of our markets. In light of this performance and encouraging forward bookings in the fourth quarter the Company today raised its underlying net profit guidance for the full year to a range of between €200 million to €210 million.
"We are reporting record underlying Q3 profitability while also delivering 23% growth in passenger numbers which re-affirms the opportunity we see in Central and Eastern Europe.
"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."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
TAP Air Portugal to operate 29 flights due to strike on December 11
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Airbnb eyes a loyalty program but details remain under wraps