Wizz Air profits jump 87 per cent

Emerging Europe’s largest low-cost airline, Wizz Air, has reported a profit of 371.5 million euros for the first half of 2019, a year-on-year increase of 87.1 per cent.

The number of passengers carried by Wizz Air in the first half of the year increased 17.9 per cent to 22.1 million, with the airline adding 76 new routes. It now flies more than 710 routes to 44 countries from 25 bases. Load factor increased from 93.6 per cent to 94.6 per cent.

Passenger ticket revenue increased 11.4 per cent to 956.6 million curos and ancillary income (or non-ticket revenue) increased by 38.8 per cent to 714.2 million euros.

“We are particularly pleased to report an expanding net profit margin while delivering industry-leading growth rates in an operating environment of higher fuel prices,” said József Váradi, Wizz Air’s CEO.

“Wizz Air announced some exciting business developments in the first half of 2019 including a purchase order for 20 Airbus A321XLR aircraft taking our committed fleet order to 268 aircraft. These industry-leading, cost efficient aircraft will allow us to connect even more airports within our wide and diverse network,” added Mr Váradi.

Wizz Air is listed on the London Stock Exchange under the ticker WIZZ and is included in the FTSE 250 and FTSE All-Share Indices.