Wizz Air expects to post net profit this year

(Sharecast News) - Budget airline Wizz Air said it expected to post a net profit this year after posting a net annual loss due to higher fuel prices and the war in Ukraine. The company on Thursday reported an operating loss of €535m, narrower than the €642m a year earlier.

Revenue more than doubled to €3.9bn, while passenger numbers were up 88% to 51 million.

Wizz said it expects a net profit of €350 - 450 million in the current financial year, subject to the absence of adverse events such as an incremental impact from the war in Ukraine or delivery delays.

"This guidance is dependent on the revenue performance for the all-important summer period as well as the second half of F24, a period for which the company, like most airlines, currently has limited visibility," it said.

Reporting by Frank Prenesti for Sharecast.com