ƒата: 01-02-17 13:36

Wizz Air cuts full-year profit forecast

Central European budget carrier Wizz Air has cut its full-year net profit forecast by around 8%, citing weaker-than-expected fares and other negative effects.

The airline expects its underlying net profit for the year to reach И225-235 million, some И20 million down on the previous estimate.

It disclosed the revision as its third-quarter underlying profit after tax fell by more than 20% to И13.5 million.

Wizz says it expects a И10 million impact from fares in the fourth quarter, plus another И5 million relating to operational disruption and И5 million from adverse macro effects.

Tickets for the bus in Ukraine, Russia and Europe

Chief executive Jozsef Varadi points out that the Уunusually severeФ weather in Central Europe has affected operations over the winter.

Revenues were up by nearly 10% to И341 million in the three months to 31 December 2016, but unit revenue fell by 9.4%. Unit costs, excluding fuel, were unchanged.

But Wizz AirТs planned capacity hike for the year of 20% lies at the upper end of its earlier forecasts, and the airline expects a УmodestФ improvement in load factor for the year.

Varadi insists that the combination of a Уvery low faresФ environment and increasing fuel prices represents Уexcellent trading conditionsФ for the carrier, enabling it to Уcontinue securing its market leadership positionФ.

He stresses that the current financial year, despite the lower profit forecast, will be Уvery goodФ for the airline and he is УexcitedФ about prospects for 2017-18.

»сточник информации: Flight Global

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