50 SKY SHADES - World aviation news

Wizz Air raises forecast on strong summer demand

Download: Printable PDF Date: 29 Sep 2015 11:26 (UTC) category:
Wizz Air raises forecast on strong summer demand - Airlines publisher
Tatjana Obrazcova
Country: Hungary
Source: Reuters

Low-cost airline operator Wizz Air Holdings Plc (WIZZ.L) raised its profit forecast for the year, citing strong performance during the European summer and an expanded network.

The airline operator, however, cautioned on lower unit revenues continuing through the second half of the year ending March 2016, as lower fuel prices led to reduced air fares.

The company joins peers easyJet (EZJ.L) and Ryanair Holdings (RYA.I) in raising forecasts as airlines capitalize on record demand for beach holidays across Europe and lower oil prices.

Wizz Air now expects a net profit of 190 million to 200 million euros ($213.8 million-$225.1 million), excluding items, in the 2016 financial year.

The company earlier expected a net profit of 175 million to 185 million euros for the year.

Wizz Air, which operates in Central and eastern Europe, said it had "very limited visibility" for demand in the fourth quarter of the year.

Wizz Air shares rose 2.4 percent to 1937 pence on Tuesday, and were the biggest gainers on the FTSE 350 travel and leisure index .FTUB5700, which was down 0.62 percent.

($1 = 0.8887 euros)

Loading comments for Wizz Air raises forecast on strong summer demand...


Bell - strong momentum for the 505 with purchase agreements for seven aircraft in Europe

Bell signed a purchase agreements for 7 Bell505 helicopters to European customers. This sale further validates the success of Bell 505 in Europe and around the wotld. Two of these Bell 505 purchase ag...

SmartLynx Airlines helps tackle aviation industry crisis in Europe

SmartLynx Airlines provides Aircraft-Crew-Maintenance-Insurance services to help several European airlines deal with a resource crisis caused by the rising passenger numbers, lack of spare parts, and...

BAA Training Vietnam starts long-term business partnership with Vietravel Airlines

BAA Training Vietnam enters the long-term business partnership with Vietravel Airlines by signing a Memorandum of Understanding for five-year comprehensive cooperation and Type Rating servic...

Norwegian Air Ambulance Foundation and Airbus prepare for the future of HEMS

The Norwegian Air Ambulance Foundation was the very first operator to receive the new five-bladed H145 at the end of 2020. In close collaboration with Airbus, the Foundation uses it for various resear...

The drones news