Low-cost airline Wizz Air recorded a record profit of EUR 246 million in the fiscal year ended March 31, 2017, an increase of 28% compared to the previous year, and transported 23.8 million passengers. Wizz Air’s recorded revenues were EUR 1.57 billion in 2016, up 10% from the previous year’s result.
On the Romanian market, Wizz Air will increase passenger traffic by 27% this year compared to 2016.
Jozsef Varadi, CEO of Wizz Air, estimates that the operator will transport 7 million passengers this year, and for the next 5 years, he estimates that this number will double.
Regarding the opening of new domestic routes, after the one from Bucharest to Cluj-Napoca, Jozsef Varadi stated that he is evaluating other possibilities, but did not provide more details.
Wizz Air operates from 10 airports in Romania, 7 of which are bases. The number of aircraft allocated to the Romanian market is 22, nine of which are based in Bucharest.
Revenue per passenger recorded a second year of decline and reached EUR 65.7, after results in 2016 and 2015 were EUR 71.5/passenger and EUR 74.5/passenger, respectively.
Varadi explains this decrease by the reduction in fuel prices, which led to a decrease in fares, on average EUR 6.5 lower.
Calculated based on the number of passengers transported, 5.5 million, the operator’s revenues in Romania amounted to EUR 361.3 million.
The load factor of Wizz aircraft increased from 88.2% to 90.1%.
Source: Economica
Frequently Asked Questions
What was Wizz Air’s profit for the 2017 fiscal year?
Wizz Air reported a record profit of EUR 246 million, representing a 28% increase over the previous year.
How many passengers does Wizz Air expect to carry in Romania?
The CEO estimates 7 million passengers in Romania for the current year, with expectations to double this figure within five years.
Why did revenue per passenger decrease?
Revenue per passenger dropped to EUR 65.7 due to lower fuel costs, which allowed the airline to reduce average ticket prices.