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Record Results at Wizz Air

D&T
January 29, 2020

Wizz Air, a low-cost airline with Hungarian background, posted record-high after-tax profit of EUR 21.4 million in the third quarter that ended on December 31.

According to a statement of results published on the company's website this Wednesday, Wizz Air increased its revenue by 24.6% to EUR 637 million during this period, while passenger traffic increased by 23.2% to approximately 10 million. Ticket revenue increased by 15% and revenue from the sale of various additional services increased by 36%.
Operating profit improved by 25% to EUR 131 million and after-tax profit by 42% to EUR 21.4 million. The fact that revenue per passenger-kilometer increased by 2%, while costs decreased by 2% may also have contributed to the good results.

Listing business developments, sustainability and innovation achievements, the company’s report states that Wizz Air has reached an agreement in principle for the establishment of Wizz Air Abu Dhabi in partnership with Abu Dhabi Developmental Holding Company PJSC (ADDH). Operations are expected to launch in the second half of 2020, with Wizz Air Abu Dhabi gaining access to markets with potentially 5 billion customers across Europe and beyond.
For the second consecutive year, Wizz Air has been named the Best Low Cost Airline in Europe in the 2020 annual ranking of AirlineRatings, the world's only safety and product rating website. This rating is considered one of the most important and respected awards in the world of aviation, guiding customers in their choice of the safest and best airlines to fly with.
Wizz Air remains the greenest choice of air travel with the lowest carbon emissions per passenger/km of all European airlines, at 57.3 grams per passenger/km over the last twelve months. Wizz Air will continue to drive efficiency and improvement in this area with its environmental footprint further decreasing by one third for every passenger/km over the next decade.

D&T

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