Article from BTNews 3 FEBRUARY 2020
Wizz hails results and new routes
Record financial results for the third quarter of 2019 and two new routes, Gatwick – Sofia and Luton – Gran Canaria, plus a frequency increase for flights between Luton and Tenerife, were announced by Wizz Air last week.
Daily Gatwick – Sofia flights launch on 1 June and the Luton – Gran Canaria service begins on 4 June, with flights operating three times a week.
On the financial front, Wizz announced a record third-quarter 2019 profit of €21.4m, a year-on-year increase of €42.4m. Total revenue increased by 24.6% to €637.m, with ticket revenues up by 15.5% to €336.3m and ancillary revenues up 36.7% to €301.1m.
Passengers carried increased by 23.2% to 10m while the airline announced 105 new routes since the beginning of the current fiscal year and now offers more than 710 routes to 45 countries from 25 bases.
CEO József Váradi said: “We are again reporting a record performance in the third quarter as our low-fare, low-cost business model delivered a net profit of €21.4m compared to a broadly break-even operational outcome in the same period last year.
“We have delivered unit cost reduction ahead of expectations while growing passenger volumes by an industry-leading 23% in the third quarter. In short, it has been another quarter of significant achievement.
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