Wizz Air CEO József Váradi said the results demonstrate the resilience of the airline’s business model.
Over the three months to June 30, Wizz Air’s ticket revenues increased 3% to €212 million, but ancillary revenue was up 20.8% at €152.9 million—forming a high proportion of overall revenues, which rose 9.8% to total €364.9 million.
Expenses increased 7.8% to €321 million, producing an operating profit of €43.9 million, up 26.8% from a €34.7 million operating profit in the prior-year quarter. Underlying net profit was 13.9% up at €38.6 million.
Traffic rose 20.8% to 9 billion RPKs on a 19.7% increase in capacity to 10.1 billion ASKs, producing a load factor of 89.5%, up 0.7 of a point.
Yield dipped 9.1% to 4.04 cents as RASK lowered 8.3% to 3.62 cents and CASK decreased 10% to 3.19 cents. CASK ex-fuel was 2.26 cents, up 2.3%.
Load factors are expected to register a “modest improvement,” coupled with a 5% reduction in CASK, while RASK is forecast to register a mid-single digit fall.
Wizz Air also confirmed its €245-€255 million underlying net profit guidance for the full year, although it cautioned that this is based on “limited visibility” over summer trading and second-half revenues.
Victoria Moores, Victoria.email@example.com