Wizz Air sees 'momentum' in pricing after tricky start to summer

Wizz Air said demand for travel was underpinning higher ticket prices, one positive in first-quarter results that revealed the impact of high fuel prices and disruption at airports across Europe on the low-cost carrier. Operating losses jumped to E285m in the three months to end-June from 109 million euros the year before, the London-listed airline said on Wednesday. But it expected to deliver a "material operating profit" for the second quarter as revenue and pricing momentum continued to improve and disruption at airports started to reduce. "We are seeing a very strong revenue pick up so we believe that there is a pricing momentum in the marketplace," CE Jozsef Varadi said in an interview. "We are seeing roughly around 10% uplift on revenue (versus three years ago), which is a significant gain versus what we saw in Q1. We believe that most of the pricing momentum is going to be maintained going into the second half of the financial year."<br/>