Wizz Air lifts lower end of full-year profit guidance
Wizz Air bumped up the lower end of its full-year profit guidance on Wednesday as it posted a jump in first-half profit and revenue.
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In the six months to the end of September, profit rose 85.2% to a record €371.5m on total revenue of €1.7bn, up 21.7%. The airline carried 22.1m passengers, up 17.9% on the same period a year ago and ancillary revenues were 38.8% higher at €714.2m. The load factor - which gauges how full the flights are - ticked up to 94.6% from 93.6%.
Total costs increased by 21.1% to €1.3bn and fuel unit costs were 5.3% higher year-on-year.
Chief executive Jozsef Varadi said: "On the back of a strong first half we will be accelerating second half growth to 22%.
"Notwithstanding this faster pace of growth and the genuine macro-economic challenges which always exist, the more recent supporting market conditions mean we are seeing our business tracking towards the top end of our current net profit guidance range which gives us confidence to tighten the range to between €335m and €350m for the full year."
The company had previously guided to between €320m and €350m.
At 0900 GMT, the shares were down 2.9% at 3,760p.