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Wizz Air Holdings PLC flies high

Central and eastern European no-frills airline says profits to hit top end of guidance

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Wizz Air offers more than 410 routes from 24 bases

Shares in central and eastern European budget carrier Wizz Air Holdings PLC (LON:WIZZ) gained height after it predicted annual profits at the top end of guidance.

The stock lifted 20p to 1821p as Wizz said it now expected underlying net profit for the 12 months to March 31 of between €200mln and €210mln.

Wizz said the strong financial performance in the first nine months of this financial year had continued into the fourth quarter

It attributed the stronger-than-expected performance to a mix of robust ticket sales, lower fuel costs, strong load factors and tight cost control.

Wizz, which flies from UK airports including Luton, Birmingham, Bristol, Glasgow, Aberdeen and Liverpool, is due to report full-year results on May 25.

Chief executive József Váradi said: "We have seen strength in all our markets. This performance, while also delivering a forecast 21% growth in passenger numbers this financial year, re-affirms the opportunity we see in central and eastern Europe."

Wizz offers more than 410 routes from 24 bases in Poland, Hungary, Bulgaria, Romania, Ukraine, the Czech Republic, Serbia, Lithuania, Macedonia, Latvia, Bosnia & Herzegovina, Slovakia and Georgia.

 

 

Quick facts: Wizz Air Holdings

Price: 3298 GBX

AIM:WIZZ
Market: AIM
Market Cap: £3.39 billion
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