Low-cost carrier Wizz Air has enjoyed a “stronger than expected financial performance” thanks to “robust” ticket sales and lower fuel costs.
The Hungary-based airline, which specialises in central and eastern European destinations, said its “strong financial performance” seen in 2015 had continued into the first three months of 2016.
Wizz, which is listed on the London Stock Exchange, said it now expected to make a post-tax profit at the “top end” of its previous forecast of €200 million to €210 million for the current financial year ending on March 31.
Jozsef Varadi, Wizz’s CEO, added the airline had seen “strength in all our markets” and was approaching the milestone of carrying 20 million passengers per year.
“This performance, while also delivering a forecast 21 per cent growth in passenger numbers this financial year, reaffirms the opportunity we see in Central and Eastern Europe,” said Varadi.
Wizz operates a fleet of 66 Airbus A320 and A321 aircraft on more than 420 routes including 24 bases and serves 119 destinations in 38 countries.