StockMarketWire.com - Budapest-based budget carrier Wizz Air upgraded its annual profit guidance after it returned to the black in the third quarter of its financial year.

Net profit for the year through March was now seen at between €350m and €355m, up from previous guidance of between €335m and €350m.

Net profit for the three months through December amounted to €21.4m, swinging from a restated loss of €21.0m on-year.

Quarterly revenue rose 25% to €637.3m as the airline carried 23% more passengers.

Revenue from ticket sales rose 16% to €336.3m, while ancillary revenue, which includes extras like food, rose 37% to €301.1m.

Chief executive Jozsef Varadi said the company had delivered unit cost reductions ahead of expectations, with ex-fuel cost per available seat kilometer improving 5.6% on-year.

'Whilst growing passenger volumes by an industry leading 23% in the third quarter, we have achieved both higher load factors and improved yields,' he added.

'In short, it has been another quarter of significant achievement.'




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