Wizz Air to accelerate growth after record second quarter

Wednesday, 13 Nov, 2019 0

Wizz Air is planning to accelerate its growth during the second half of its financial year after announcing a 26% increase in profits for the first six months.

The airline’s unaudited results show a profit of €371.5 million for the first half of the year to the end of September after a record second quarter, when its earnings were up more than 30%.

Passenger numbers were up 18%.

Chief executive Jozef Varadi said: "We are particularly pleased to report expanding net profit margin while delivering industry leading growth rates in an operating environment of higher fuel prices.

"Wizz Air announced some exciting business developments in the first half including a purchase order for 20 Airbus A321XLR aircraft taking our committed fleet order to 268 aircraft.

"These industry-leading, cost-efficient aircraft will allow us to connect even more airports within our wide and diverse network.

"The stronger yield environment, along with the Company’s ever disciplined attitude to costs, will enable Wizz Air to accelerate growth profitably during the second half. As a result the company’s full year net profits guidance is tightened to €335 to €350 million."

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

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