Wizz Air delivers strong full-year results

epa06625042 Wizz Air Airbus A 320 - 232 is landing at Riga International Airport, Latvia, 23 March 2018. EPA-EFE/TOMS KALNINS

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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.

via FT 

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