WIZZ AIR FULL YEAR PAX GROWTH TARGET INCREASED TO 25% AFTER A RECORD FIRST 9 MONTHS AND HIGHER LOAD FACTORS

Geneva, 31 January 2018: Wizz Air Holdings Plc (“Wizz Air” or “the Company”), the largest low-cost airline in Central and Eastern Europe (“CEE”), today issues unaudited results for the three months to 31 December 2017 (“third quarter” or “Q3”) for the Company as a whole, and separately for its airline (“Airline”) and tour operator (“Wizz Tours”) business units[1].

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Three months to 31 December 2017

(million)

2016

(million)

Change
Passengers carried 7.1 5.7 24.3%
Revenue (€) 422.9 341.1 24.0%
EBITDAR (€) 104.2 89.2 16.9%
EBITDAR margin (%) 24.7 26.1 (1.5)ppts
Profit for the period[2] (€) 14.0 13.5 3.6%
Profit margin for the period2 (%) 3.3 3.9 (0.6)ppts

 

 

PROFITABLE Q3 AND STRONG BALANCE SHEET

Total revenue increased 24.0% to €422.9 million:

  • Ticket revenues increased 26.1% to €241.7 million.
  • Ancillary revenues grew 21.3% to €181.1 million.

Profit for the period was a record €14.0 million in Q3, a year on year increase of 3.6%.

Total cash at the end of December 2017 was €1,143.8 million of which €975.1 million was free cash.

 

AIRLINE AND WIZZ TOURS

The segmented reporting illustrates the financial performance of the Airline and Wizz Tours business units separately:

Airline:  Q3 performance:

  • Total unit revenue increased 1.3% to 3.35 euro cents per available seat kilometre (ASK).
  • Total unit costs increased 2.4% to 3.23 euro cents per ASK.
  • Ex-fuel unit costs were unchanged at 2.29 euro cents per ASK.
  • Fuel unit costs increased 8.8% to 0.94 euro cents per ASK.
  • Load factors increased 1.4ppts to 89.4%

Wizz Tours:  Q3 package holiday revenues were €3.3 million.

 

LEADING POSITION IN CENTRAL AND EASTERN EUROPE

Passengers carried increased 24.3% to 7.1 million expanding Wizz Air’s position as CEE’s leading low cost carrier.

Network has continued to grow with the announcement of 39 new routes during Q3, Wizz Air now offers more than 550 routes to/from 44 countries from 28 bases.

Fleet increased to 88 aircraft with the addition of two A321 aircraft, the fleet mix is now 64 A320 and 24 A321 Airbus aircraft.

Average aircraft age of 4.6 years, one of the youngest fleets of any major European airline.

Addition of the Wizz Air’s 145th destination to Athens, Greece.

 

BUSINESS DEVELOPMENTS AND INNOVATION

Purchase of additional slots in London-Luton, the Company will have seven aircraft based in London-Luton in 2018.

Signed our largest ever aircraft order with Airbus for an additional 146 Airbus A320 family NEO aircraft.

Wizz pilot academy officially opened which will train over 100 cadets in the next 12 months.

Application submitted for a UK Air Operator’s Certificate (AOC) and Operating Licence further demonstrating Wizz Air’s commitment to Europe’s single largest aviation market.

Implemented new baggage policy, eliminating paid-for cabin bag.

Winning the title of European Airline of the Year by Aviation 100 and also recognized at Sky Awards as Best Low-Cost Airline, and Passengers’ Most Preferred Choice for its great performance in the Bulgarian market in 2017.