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Wizz Air lifts full-year net profit forecast

Central European budget carrier Wizz Air is raising its net profit forecast again, to around €190-200 million ($215-225 million).

The airline had already lifted its expectations in July when it predicted its net figure would reach up to €185 million.

Wizz Air says the revision follows a good performance over the first half, which ends on 30 September, and “robust” bookings for the third quarter.

It says it is “on target” to generate operating and net profit margins which are “ahead” of the same period last year, although it points out that it has “very limited visibility” for the fourth quarter.

Wizz expects to increase capacity by 19% in the second half of the year, and that its overall capacity hike for the full year will be around 18% – up by a point on previous guidance.

“Lower fuel prices are feeding through to lower air fares,” it says, adding that it predicts a 6% fall in fuel unit costs for the year.

“Wizz Air anticipates that the downward trend in unit revenues will continue in the second half of the financial year.”

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