Reduced Fuel Costs Help Wizz Air Yearly Profit Rise 53%

Hungarian low-cost carrier Wizz Air has reported an adjusted net profit of €224m ($250.5m) for the financial year ending March 31, 2016, a 53 cent year-on-year increase.

Hungarian low-cost carrier Wizz Air has reported an adjusted net profit of €224m ($250.5m) for the financial year ending March 31, 2016, a 53 cent year-on-year increase.

Wizz Air said that the profit, which bettered its forecast of €200m ($223m) to €210m ($234m), was aided by a combination of lower fuel prices and increased capacity.

The airline’s revenues also increased for the year to €1.4bn (£1bn), a 16 per cent increase on 2015’s results.

For the new financial year, the airline said it expects “a further significant rise” in its net profit to a range of between €245m ($273.9m) and €255m ($285.1m) as it plans to further expand its network.

 

 

 

 

TAGS: Europe
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