Mixed Q1 for Wizz Air as profits take a hit 

Insider Media writes that Wizz Air has increased Q1 revenue past the €550m mark after enjoying a “very solid performance”.

However, profits took a hit and it has taken the decision to trim its full-year growth target. The company operates a fleet of 104 Airbus A320 and Airbus A321 aircraft, offering more than 600 routes from 25 bases, connecting 142 destinations across 44 countries.

It employs a workforce of more than 4,000. For the three months to 30 June 2018, income was up from €469m to €553m. Operating profits were down from €61.9m to €54.5m, while pre-tax profits fell from €60.5m to €52.1m. Passenger numbers increased from 7.2 million to 8.6 million. 

Chief executive József Váradi said it had been a “very solid performance given the absence of high yielding Easter traffic, which fell into the end of the last financial year, as well as a backdrop of significant challenges caused by European air traffic control issues”. 

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