Low fuel costs boost profits at Wizz Air
Low fuel costs and increased volumes lifted profits at Wizz Air to record levels as the company forecast further increases in profit in 2017, despite heightened price competition. The airline Wednesday reported adjusted net profit for the year ending in March at E224m, up 53% from the previous year, and ahead of the company’s March forecast of E200m–E210m. The airline’s profit measure excludes currency moves and exceptional items. The airline carried a record 20m passengers — a 21% increase — while revenue jumped 16% to E1.43b. Earnings were lifted by a combination of lower fuel prices and increased volumes. Jozsef Varadi, Wizz Air founder and CE, pledged the company would do “whatever it takes” to remain competitive on pricing as the airline faces into a period of increased competition with Ryanair. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-05-26/unaligned/low-fuel-costs-boost-profits-at-wizz-air
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Low fuel costs boost profits at Wizz Air
Low fuel costs and increased volumes lifted profits at Wizz Air to record levels as the company forecast further increases in profit in 2017, despite heightened price competition. The airline Wednesday reported adjusted net profit for the year ending in March at E224m, up 53% from the previous year, and ahead of the company’s March forecast of E200m–E210m. The airline’s profit measure excludes currency moves and exceptional items. The airline carried a record 20m passengers — a 21% increase — while revenue jumped 16% to E1.43b. Earnings were lifted by a combination of lower fuel prices and increased volumes. Jozsef Varadi, Wizz Air founder and CE, pledged the company would do “whatever it takes” to remain competitive on pricing as the airline faces into a period of increased competition with Ryanair. <br/>
