Wizz Air forecasts full-year net profit of €270m to €300m

In a trading update issued on Tuesday (April 2), the budget carrier said it ended the year to March 31 “in line with expectations” and expects to deliver net profit “in the upper half of its guidance”.

The airline will post its preliminary results for the year ending March 31, 2019, on May 31, while providing full-year guidance for 2019/20, as well as an outlook for summer 2019.

Wizz reports March capacity growth of 6.9% year-on-year to just shy of 2.9 million seats and passenger growth of 9.9% to 2.72 million on a load factor of 94.1%, up from 91.5% this time last year.

Full-year capacity (March 2018 to March 2019) is up 14.9% while passenger numbers increased 16.7% to 34.6 million on a load factor of 92.8%, up 1.4% on last year.

The carrier also hailed “excellent” operational performance in March, with one one cancelled flight compared to 68 last year, and on-time performance of 85%, up 10%ppts.

Wizz is also forecasting 4% growth year-on-year in revenue per seat per kilometre during Q1 2019 driven by ancillary revenues and the timing of Easter.