Pre-Close Trading Update

RNS Number : 9678S

Wizz Air Holdings PLC

23 March 2016

 

Pre-Close FY16 Trading Update

Geneva, 23 March 2016:  Wizz Air Holdings Plc ("Wizz Air" or the "Company"), the largest low-cost airline in Central and Eastern Europe, today provides a trading update for the fourth quarter and year ending 31 March 2016.

Wizz Air confirms that the strong financial performance delivered in the first nine months of this financial year has continued into the fourth quarter.  A combination of robust ticket sales, lower fuel costs, strong load factors, and our continued disciplined approach to cost management has once again led to a stronger than expected financial performance.  Consequently, it is expected that the Company will be able to report underlying net profit* for the twelve months ending 31 March 2016 at the top end of guidance provided at the time of our third quarter interim management statement  in January 2016 of between €200 million - €210 million. 

Wizz Air is expected to report its preliminary results for the year ending 31 March 2016 on 25 May 2016.

József Váradi, Wizz Air Chief Executive said:

"As Wizz Air approaches the 20 million passengers per year mark the Company is again expected to report a strong financial performance for the full year.  We have seen strength in all our markets and are expecting to achieve underlying net profit for the full year 2016 at the top end of our guidance range of between €200 million to €210 million*.  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."    

*Excluding unrealised foreign exchange gains/losses and exceptional items.

ABOUT WIZZ AIR

Wizz Air is the largest low-cost airline in Central and Eastern Europe, operates a fleet of 66 Airbus A320 and Airbus A321 aircraft, and offers more than 420 routes from 24 bases, connecting 119 destinations across 38 countries. At Wizz Air, a team of approximately 2,600 aviation professionals delivers superior service and very low ticket prices making Wizz Air the preferred choice of 19.7 million passengers in the last 12 months. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ and is included in the FTSE 250 and FTSE All-Share Indices. 

Wizz Air was awarded "Value Airline of the Year" for 2016 by Air Transport World, one of the world's leading airline industry trade magazines.

For more information:
Investors:	Iain Wetherall, Wizz Air:	[phone]
Media:	Doug Oliver, Wizz Air:	[phone]
	Edward Bridges / Jonathan Neilan, FTI Consulting LLP:	[phone]

 

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