Wizz Air forecasts growth

Lower fuel prices have led Wizz Air to raise its forecast for capacity growth for 2016 from 17% to 18% and predict a €190m-plus profit for this year.

The airline said the decrease in fuel costs was "feeding through to lower air fares" and it anticipated the downward trend in unit revenues would continue in the second half of the financial year.

It reiterated it had "very limited visibility of demand"in the final quarter of the year, but added, "Nonetheless, the strong first-half financial performance, combined with robust bookings for the third quarter, are encouraging."

Wizz Air is now expected to report a net profit for the full year excluding unusual and exceptional items of €190m – €200m, a statement added.

Jozsef Varadi, Chief Executive, said: "We are pleased with summer trading and anticipate this will translate into another record quarter for Wizz Air. We have continued to grow our network and increase passenger numbers throughout the period while maintaining an ultra-low cost base."

Varadi said Wizz Air was also "very excited" about the arrival of its A321 aircraft from next month, which would underpin the airline’s growth plans for the next decade and improve further its cost competitiveness.  https://wizzair.com

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