Wizz Air delivers strong full-year results
Low-cost airline Wizz Air has delivered strong full-year results, with pre-tax profit up 4.5 per cent to €300m, bucking a recent trend of bad news in the industry. Chief executive Jozsef Varadi said performance was “very solid” and that net profit would rise from €292m to between €320m and €350m in the 2019-20 financial year.
The Financial Times reports that the company also said that unit costs would rise 2 per cent next year, with unit revenues growing in the low single digits. Mr Varadi said that higher fuel prices were driving “weaker carriers” out of the market, which allowed Wizz to increase its market share.