Wizz Air cuts annual profit estimate as competition bites
Wizz Air cut its full-year profit estimate Wednesday, citing pressure on fares in the industry, and said it would press ahead with plans to expand aggressively to build market share. Wizz Air's London-listed shares fell more than 8%, their steepest decline since the aftermath of Britain's vote to leave the EU last June, having been more resilient than rivals over the last year. The group has felt the effects of pricing pressures after EasyJet and Ryanair put more seats on to the market to take advantage of previously low oil prices and to try to capture market share. Both Lufthansa and Ryanair have said they expect fares to fall again this year. Wizz Air lowered its underlying net profit guidance to a range of between E225m and E235m for the year to the end of March, from a previous forecast of E245m to E255m. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-02-02/unaligned/wizz-air-cuts-annual-profit-estimate-as-competition-bites
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Wizz Air cuts annual profit estimate as competition bites
Wizz Air cut its full-year profit estimate Wednesday, citing pressure on fares in the industry, and said it would press ahead with plans to expand aggressively to build market share. Wizz Air's London-listed shares fell more than 8%, their steepest decline since the aftermath of Britain's vote to leave the EU last June, having been more resilient than rivals over the last year. The group has felt the effects of pricing pressures after EasyJet and Ryanair put more seats on to the market to take advantage of previously low oil prices and to try to capture market share. Both Lufthansa and Ryanair have said they expect fares to fall again this year. Wizz Air lowered its underlying net profit guidance to a range of between E225m and E235m for the year to the end of March, from a previous forecast of E245m to E255m. <br/>
