Wizz Air sees dramatic drop in profits
Thursday, January 31, 2019

Low-cost carrier Wizz Air has reported a nearly 88 per cent decrease in profits for the three months to 31 December despite growth in passenger numbers.

The Hungarian airline saw profits of €1.7 million – far below the €14 million recorded in the same period of 2017.

However, passenger numbers rose 14.9 per cent to 8.1 million, while load factor was up two percentage points to 91.4 per cent.

With revenue growing more than 21 per cent in the quarter to €512.7 million, CEO Jozsef Varadi blamed the slump in profits on rising fuel prices

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