Wizz Air operating profit up 41% in Q1FY2018, 2018 result to be in line with upper end of guidance

Wizz Air Group reported (19-Jul-2017) the following financial highlights for three months ended 30-Jun-2017:

• Revenue: EUR469.3 million, +28.6% year-on-year;
  • Ancillary: EUR204 million, +33.4%;
• Total operating costs: EUR407.4 million, +26.9%;
  • Fuel: EUR117.1 million, +24.8%;
  • Airport, handling and en-route: EUR112.0 million, +17.8%;
• Operating profit: EUR61.9 million, +40.8%;
• Net profit: EUR58.1 million, +14.6%;
• Passengers: 7.2 million, +25.2%;
• Passenger load factor: 91.2%, +1.7ppt;
• Average aircraft stage length: 1587km, +1.3%;
• Total cost per ASK: EUR 3.23 cents, +2.2%;
• Cost per ASK excl fuel: EUR 2.29 cents, +2.7%. [more - original PR]

Wizz Air Group: "This first quarter performance together with encouraging summer bookings and the favourable fuel price environment are setting the Company up for a strong year. However, as we have seen in recent history, airlines tend to compete away the benefit of lower fuel prices with extra capacity and therefore we remain cautious on the prevailing yield environment in the second half of this financial year, a period in which the Company has very limited visibility. Therefore the Company is today guiding towards the higher end of a full year net profit guidance range of between EUR250m and EUR270m," Jozsef Varadi, CEO. Source: Company statement, 19-Jul-2017.