Wizz Air results: the airline’s revenue increased 24.6 per cent to €637.3 million for the three months to 31 December 2019. Profit for the period was a record €21.4 million in Q3, a yoy increase of 42.4 million.
Ticket revenues increased 15.5 per cent to €336.3 million and ancillary revenues increased 36.7 per cent to €301.1 million.
Passengers carried increased 23.2 per cent to 10.0 million, securing Wizz Air’s position in the region as the number one low cost carrier. Wizz Air 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.
Two new stations were added to the network during the period: Yerevan in Armenia with two new routes to Vienna and Vilnius, and Paris Orly, with two new routes to Budapest and Warsaw. The fleet continued to grow with the delivery of one new Airbus A321neo during the period, taking the fleet to 120 aircraft at the end of the third quarter.
Wizz Air Chief Executive, József Váradi, commented: “Wizz Air again reports a record financial performance in the third quarter as our low-fare, low-cost business model delivered a net profit of €21.4 million compared to a broadly breakeven operational outcome in the same period last year.”
He said the airline had delivered unit cost reduction ahead of expectations with ex-fuel CASK improving 5.6 per cent year-on-year.
“Whilst growing passenger volumes by an industry leading 23 per cent in the third quarter, we have achieved both higher load factors and improved yields. In short, it has been another quarter of significant achievement,” the CEO added.
Also, in the quarter, Wizz Air announced it had reached an agreement in principle for the establishment of Wizz Air Abu Dhabi and operations are expected to launch in the second half of 2020. The new airline will be Wizz Air’s first airline established outside of Europe.
Find out more about Wizz Air on the Wizz Air website.