Wizz Air Holdings
Plc
F24 Post-close Trading
Statement
Ticker:
WIZZ
Geneva, 25 April 2024: Wizz Air
Holdings Plc ("Wizz Air" or the "Company"), the fastest-growing and
one of the most sustainable European low-cost airlines today
provides unaudited post-close trading update for the financial year
ended 31 March 2024 ("F24").
Wizz Air expects to report net
income in the range of €350 - €370 million for the full year, in
line with guidance.
Total revenue is expected to be in
the range of €5,050 - €5,100 million reflecting stronger ticket
revenue and pricing, partially offset by softer ancillaries in H2
as a result of the combination of network-related impacts from
geopolitical events and resulting short window capacity
redeployment. Full year RASK (revenue per ASK) is expected to be
mid-single digit per cent higher vs last year, as
guided.
Supported by higher utilization and
on-time performance, operating expenses grew slower than flown
capacity, resulting in lower unit costs for the year. Fuel CASK
(cost per ASK), including the cost of carbon and fuel hedging, is
expected to be 23-24 per cent lower vs. last year. Ex-fuel CASK,
which includes the OEM compensation and gains from GTF spare engine
financing in Q4, is also expected to be 7-8 per cent lower vs. last
year.
F24 was underpinned by sustained
demand for air travel and active management of ongoing external
issues, including the GTF engine recall and the Israel-Hamas war.
On 31 March 2024, Wizz Air had 45 neo aircraft grounded due to
issues related to the GTF engine recall, with 40 GTF spare engines
supporting the removal program. Assumptions relating to GTF engine
removals shared previously remain unchanged.
During the year, Wizz Air took
delivery of 39 new A321neo aircraft, and the total fleet as of 31
March 2024 was 206 aircraft.
Outlook
Wizz Air reiterates its expectation
of roughly flat year-on-year capacity growth for H1 F25 and full
F25. It is trading positively into the summer of 2024 with selling
load factors and pricing trending higher year-on-year in the first
two fiscal quarters. Based on improved operational metrics, current
trading dynamics and continuing capacity constraints in the wider
market, the Company expects to expand operating margins, increase
operational cash and further reduce net debt in F25.
Currently, Wizz Air continues to
operate flights to Israel, but is following the security situation
there closely.
József Váradi, Wizz Air Chief Executive
commented:
"This year we have seen a
continuation of the surge in passenger demand for air travel that
began immediately after the pandemic. While Wizz Air benefitted
from this sustained demand and reported record passenger numbers
throughout the year, we also mitigated new challenges, including a
further wave of geopolitical unrest, the Pratt & Whitney GTF
engine recall and air traffic control disruptions.
"Despite this, traffic increased
consistently through the year and Wizz Air returned to
profitability in F24. This performance is a testament to our robust
and agile operating model that allows us to withstand pressures,
while simultaneously controlling costs and maintaining a relentless
focus on growth."
Notice of Results
Wizz Air will issue unaudited F24
results for the 12 months ended 31 March 2024 on Thursday, 23 May
2024 at 07:00 BST (08:00 CEST).
Wizz Air's management will host an
in-person presentation for analysts and institutional investors at
09:30 BST (10:30 CEST) at MHP Group's offices, 60 Great Portland
Street, London, W1W 7RT, on the day. For those who are unable to
attend the presentation in person, a live webcast will also be
available.
Participants can register for the
webcast here:
https://wizzair.com/en-gb/information-and-services/investor-relations/general-information
Wizz Air will publish audited F24
results with its 2024 Annual Report on 14 June 2024.
- Ends -
ABOUT WIZZ AIR
Wizz Air, the fastest growing
European ultra-low-cost airline, operates a fleet of 207 Airbus
A320 and A321 aircraft. A team of dedicated aviation professionals
delivers superior service and very low fares, making Wizz Air the
preferred choice of 62 million passengers in the financial year
ending 31 March 2024. Wizz Air is listed on the London Stock
Exchange under the ticker WIZZ. The company was recently named the
World's Top 5 Safest Low-Cost Airlines 2024 by airlineratings.com,
the world's only safety and product rating agency, and named
Airline of the Year by Air Transport Awards in 2019 and in 2023.
Wizz Air has also been recognised as the "Most Sustainable Low-Cost
Airline" within the World Finance Sustainability Awards in
2021-2023 and the "Global Environmental Sustainability Airline
Group of the Year" by the CAPA-Centre for Aviation Awards for
Excellence 2022-2023.
For more information:
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Investors:
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Zlatko Custovic, Wizz Air
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+36 1 777 9407
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Media:
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Tamara Vallois, Wizz Air
James McFarlane / Eleni Menikou /
Charles Hirst, MHP Group:
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+36 1 777 9324
+44 (0) 20 3128 8100
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