Wizz Air Group operating profit decline in Q3FY2017, downgrades full year outlook

Wizz Air Group revenue up 10% - financial highlights for three months ended 31-Dec-2016:

• Total revenue: EUR341.1 million, +9.9% year-on-year;
• • Ancillary: EUR149.4 million, +21.0%;
• Total operating costs: EUR325.6 million, +12.7%;
• • Airport, handling and en-route: EUR94.9 million, +16.1%;
  • Fuel: EUR89.1 million, -5.2%;
• Operating profit: EUR15.5 million, -27.7%;
• Net profit: EUR32.5 million, +108%;
• Passengers: 5.7 million, +20.1%;
• Passenger load factor: 88.1%, +2.3 ppts;
• Cost per ASK: EUR 3.16 cents, -6.8%;
• Cost per ASK excl fuel: EUR 2.29 cents, stable. [more - original PR]

Wizz Air: "Although the current financial year is looking like a very good year for Wizz Air and we remain excited about our prospects for the next financial year, lower fuel prices continue to feed through to lower airfares, and this downward trend looks likely to continue well into 2017. Also, our operations this winter have been disrupted by unusually severe weather conditions in CEE. As a result, management believes it is prudent to trim the company's guidance for net profit for the full year from the existing range of between EUR245 - EUR255 million to a range of between EUR225 - EUR235 million," József Váradi, CEO. Source: Company statement, 01-Feb-2017.