Due to increased fuel and summer timing, Wizz Air's low-cost Hungarian airline lowered its profit prospects, which reached a record high after tax profit in the first financial year ending September 30.
According to a statement published on Wednesday on the airline website, the company increased its passenger traffic by 20% to 18.8 million compared to the first half of 2017 and increased its revenue to the same extent to EUR 1.3 billion . In this context, daily sales revenue was 25, the level of additional revenue by 12.5% over the same period last year. In the summer schedule, flights were mainly delayed due to weather conditions and airspace capacity problems due to the additional cost and high cost of kerosene, Wizz Air's costs were 28% higher than the one-year level. For Kerosene, the company spent 43% more than last year.
Operating profits fell by 1.9% to EUR 300 million, but due to the positive balance of financial transactions, the company's earnings after tax improved by 1.2% to EUR 296 million and achieved a new record. However, due to the delayed increase in kerosene and the additional costs due to delays, Wizz reduced the expected profit level at the end of the financial year from the previous package of 310-340 million euros and now the company expects a profit of 270 to 300 million on 31 March of the following year.