Proactiveinvestors United Kingdom Wizz Air Holdings https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Wizz Air Holdings RSS feed en Thu, 27 Jun 2019 05:20:16 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Order for 20 Airbus A321XLR Aircraft ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190619091531_14116519/ Wed, 19 Jun 2019 09:15:31 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190619091531_14116519/ <![CDATA[News - Wizz Air the lowest CO2 emissions airline and plans to further reduce environmental impact ]]> https://www.proactiveinvestors.co.uk/companies/news/222131/wizz-air-the-lowest-co2-emissions-airline-and-plans-to-further-reduce-environmental-impact-222131.html Wizz Air Holdings PLC (LON:WIZZ) said on Friday that it operates at the lowest CO2 emissions per passenger among all its competitor airlines.

The budget airline also announced that it plans to cut its CO2 emissions by one third for every passenger over the next decade.

READ: Wizz Air delivers record profit despite Brexit uncertainty and higher fuel prices

In May, the carrier emitted 319,760 tonnes of CO2, or 56.5g per passenger per kilometre, down 4.4% compared to last year. It carried 3.47mln passengers and flew 5,656km.

Wizz Air said the reason has the smallest footprint per passenger is because its fleet of Airbus A320, A321CEO and A321NEO aircraft are fuel efficient and have an average age of 4.7 years –  one of the youngest in the industry.

“We have set ambitious goals for ourselves to further reduce the impact on the environment by deploying the latest state-of-the-art technology and further reducing CO2 emissions per passenger by a third by 2030,” said chief executive József Váradi.

“We have the best tools to achieve this - the A321NEO aircraft with Wizz Air's seat configuration of 239 passenger seats and Pratt and Whitney's Geared Turbofan engines bring the cleanest and most environmentally-friendly technology that currently exists in the world."

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Fri, 14 Jun 2019 08:23:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/222131/wizz-air-the-lowest-co2-emissions-airline-and-plans-to-further-reduce-environmental-impact-222131.html
<![CDATA[RNS press release - Wizz Air Lowest CO2 Emissions Amongst EU Airlines ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190614070003_14110636/ Fri, 14 Jun 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190614070003_14110636/ <![CDATA[RNS press release - May 2019 Traffic Statistics ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190604070004_14096995/ Tue, 04 Jun 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190604070004_14096995/ <![CDATA[RNS press release - Long Term Incentive Plan Award Grants ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190603124118_14096399/ Mon, 03 Jun 2019 12:41:18 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190603124118_14096399/ <![CDATA[News - Wizz Air delivers record profit despite Brexit uncertainty and higher fuel prices ]]> https://www.proactiveinvestors.co.uk/companies/news/221280/wizz-air-delivers-record-profit-despite-brexit-uncertainty-and-higher-fuel-prices-221280.html Wizz Air Holdings PLC (LON:WIZZ) posted record annual profit and revenue despite the absence of Easter traffic,  higher fuel prices and Brexit uncertainty.

Net profit rose by 6% to €291.6mln in the year to the end of March 2019, as expected, on revenue up 19.6% to €2.3bn.

Passenger numbers increased 16.7% to 34.6mln as the budget airline increased its capacity with a 20.4% increase in its fleet to 112.

Ticket revenue grew 21% to €1.4bn while ancillary revenue – derived from charging extras like seat selection, baggage and food – rose 19% to €953mln.

Revenue per available seat kilometres (RASK) was up 2.3% to €0.04.

The load factor – the number of passengers against the number of seats available – edged up 1.5 percentage points to 92.8%.

Total operating costs rose 23% to €2.0bn and total unit costs were up 5% to €0.03 per average seat kilometres, driven by higher fuel costs.

 “This was a very solid performance given the absence of Easter traffic which fell into the end of the last financial year, higher fuel prices and a challenging operating environment across the industry,” said chief executive Jozsef Varadi.

For the 2020 financial year, the group expects net profit to rise to between €320mln and €350mln.

Wizz Air said it has made a solid start to the new year with RASK expected to increase 4%, led by a strong performance in ancillary revenue and the timing of Easter.

“We remain very optimistic for the current financial year,” said Varadi.

“Higher fuel prices are supporting a stronger fare environment and we expect these macro conditions to provide Wizz Air with market share opportunities as weaker carriers withdraw unprofitable capacity. “

UBS said the results were in line with its expectations but the guidance was slightly weaker. The investment bank left its rating on the stock at 'neutral' and its target price at €33.75. 

Shares fell 2.8% to 3,118p in morning trading. 

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Fri, 31 May 2019 07:44:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/221280/wizz-air-delivers-record-profit-despite-brexit-uncertainty-and-higher-fuel-prices-221280.html
<![CDATA[RNS press release - 2019 Annual Report and Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190531070009_14093313/ Fri, 31 May 2019 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190531070009_14093313/ <![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190531070003_14093257/ Fri, 31 May 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190531070003_14093257/ <![CDATA[RNS press release - April 2019 Traffic Statistics ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190502070003_14060144/ Thu, 02 May 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190502070003_14060144/ <![CDATA[RNS press release - Total Voting Rights and Share Capital ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190501131411_14059627/ Wed, 01 May 2019 13:14:11 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190501131411_14059627/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190417070004_14043838/ Wed, 17 Apr 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190417070004_14043838/ <![CDATA[RNS press release - Notice of FY19 Full Year Results Date ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190410091247_14035782/ Wed, 10 Apr 2019 09:12:47 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190410091247_14035782/ <![CDATA[RNS press release - Total Voting Rights and Share Capital ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190409154136_14034806/ Tue, 09 Apr 2019 15:41:36 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190409154136_14034806/ <![CDATA[News - Wizz Air soars on upbeat trading update as both it and Ryanair report traffic growth in March ]]> https://www.proactiveinvestors.co.uk/companies/news/217746/wizz-air-soars-on-upbeat-trading-update-as-both-it-and-ryanair-report-traffic-growth-in-march-217746.html Wizz Air Holdings PLC (LON:WIZZ) shares flew higher in early trading on Tuesday on the back of an upbeat trading update, with the airline and fellow budget carrier Ryanair Holdings PLC (LON:RYA) both reporting year-on-year (YOY) rises in passenger traffic for the month of March.

Central and Eastern Europe-focused Wizz said net profits for the year ended 31 March were expected to be in the “upper half” of its guidance range of between €270mln-€300mln.

The company added that its new fiscal year had “started well” with revenue per available seat per kilometre (RASK) forecast to rise by 4% YOY in the first quarter, driven mainly by the timing of Easter and strength in its ancillary revenues.

In a separate update, Wizz reported that traffic had risen 9.9% YOY in March to 2.7mln passengers, while its load factor had risen by 2.6 percentage points (ppts) to 94.1%.

The uptick in load factor was lower than the 3 ppts YOY increase in February, while the traffic increase was also below last month’s figure of 12.9% YOY growth.

READ: Wizz Air flies lower as UBS downgrades rating to 'neutral' from 'buy'

In a note to clients, analysts at UBS said they expected the airline's shares to "rebound" on the trading update.

Ryanair traffic grows, reaches deal with Portuguese pilots

Meanwhile, Irish airline Ryanair reported 10.9mln passengers for the month just gone, a 9% YOY increase, with the load factor (i.e. the number of total seats filled) of 96% unchanged from February.

READ: Ryanair fleet renewal programme in doubt as Garuda Indonesia becomes first airline to cancel orders for Boeing 737 Max 8

The increases in passenger numbers were lower than in February, where traffic had risen 13% YOY to 9.6mln.

The company’s Ryanair airline alone was up 5% YOY with 10.5mln passengers and a 96% load factor, while its Lauda airline, an Austrian based carrier it has owned since January, carried 400,000 passengers with a 94% load factor.

READ: Ryanair and Wizz Air both report passenger growth of around 13% in February

In a separate announcement, Ryanair also said its pilots based in Portugal had voted in favour of a collective labour agreement governing their pay and conditions for the next four years.

Ryanair shares were down 2.2% at €11.2 while Wizz Air was up 4.1% at 2,999p.

--Adds detail on Wizz trading and updates share price--

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Tue, 02 Apr 2019 09:35:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/217746/wizz-air-soars-on-upbeat-trading-update-as-both-it-and-ryanair-report-traffic-growth-in-march-217746.html
<![CDATA[RNS press release - March 2019 Traffic Statistics ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190402070022_14024606/ Tue, 02 Apr 2019 07:00:22 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190402070022_14024606/ <![CDATA[RNS press release - Post-close trading update ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190402070016_14024542/ Tue, 02 Apr 2019 07:00:16 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190402070016_14024542/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190329133629_14021813/ Fri, 29 Mar 2019 13:36:29 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190329133629_14021813/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190308135704_13996018/ Fri, 08 Mar 2019 13:57:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190308135704_13996018/ <![CDATA[RNS press release - February 2019 Traffic Statistics ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190304070008_13988244/ Mon, 04 Mar 2019 07:00:08 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190304070008_13988244/ <![CDATA[News - Wizz Air flies lower as UBS downgrades rating to 'neutral' from 'buy' ]]> https://www.proactiveinvestors.co.uk/companies/news/215053/wizz-air-flies-lower-as-ubs-downgrades-rating-to--neutral--from--buy--215053.html Thu, 21 Feb 2019 13:15:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215053/wizz-air-flies-lower-as-ubs-downgrades-rating-to--neutral--from--buy--215053.html <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190219094733_13974148/ Tue, 19 Feb 2019 09:47:33 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190219094733_13974148/ <![CDATA[RNS press release - January 2019 Traffic Statistics ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190204070004_13956283/ Mon, 04 Feb 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190204070004_13956283/ <![CDATA[News - Wizz Air profits dented by fuel costs while full-year guidance hinges on Brexit and Easter ]]> https://www.proactiveinvestors.co.uk/companies/news/213587/wizz-air-profits-dented-by-fuel-costs-while-full-year-guidance-hinges-on-brexit-and-easter-213587.html Wizz Air Holdings PLC (LON:WIZZ) maintained its guidance for the year despite higher fuel and staff costs leading to an 87.6% drop in net profit in the third quarter.

The budget airline said it continues to expect full-year net profit of €270mln and €300mln but where it ends up within this range depends on the extent of yield pressures in March arising from Brexit and Easter falling outside the financial year.

READ: Wizz Air shares take a dive as it downgrades full-year profit guidance on fuel prices and summer disruption

In the third quarter ended December 31, net profit fell to €1.7mln from €14mln a year ago as total operating costs increased by 25.6% to €512.7mln.

Fuel and staff costs jump

Fuel costs jumped 39.9% to €166.2mln and staff costs shot up 40.6% to €50.5mln due to new hires to support capacity growth and the start-up of Wizz UK as well as a 14% rise in pilot salaries.

“Our industry-leading aircraft utilisation (block hours per aircraft per day), which helps drive our unit costs lower, was negatively impacted by the capacity adjustments in the quarter, but with the recent fall in fuel prices we will be increasing our utilisation levels back to the high levels from the start of the fiscal year 2020,” said chief executive József Váradi.

The carrier also took a €5.9mln disruption charge for 79 flight cancellations, although this was much lower than the 226 flights it had to cancel last year.

Revenues grow on rise in passenger numbers 

Revenue gained 21.2% to €512.7mln as the number of passengers carried rose 14.9% to 8.1 million passengers, boosted by a 17% increase available seat miles.

Ticket sales rose 20.4% to €291.1mln while ancillary revenues increased 22.3% to €221.5mln, supported by the introduction of a charge for carry-on luggage last November.

Revenue per available seat miles edged up 5.6% to 3.54 euro cents.

The load factor – the ratio of passengers to seats available – rose to 91.4% from 91.4%.

“Wizz Air remains well on track to deliver its mission to be the undisputed ultra-low-cost carrier in the industry as cost leadership positions the airline for disproportionate growth opportunities across Central and Eastern Europe and Western Europe, and makes us an increasingly formidable business under any market circumstances,” Váradi said.

“The rollout of our A321 NEO fleet will commence in the fourth quarter, which combined with our industry-leading unit cost, a highly valued employee base and an investment grade balance sheet with €1.1 billion of free cash make Wizz Air a structural winner in the European airline industry."

In morning trading, shares rose 2.6% to 3,132p. 

Investors want a tighter hand on costs, says analyst

Russ Mould, investment director at AJ Bell, said investors will be looking for a much tighter hand on costs going forward.

“And Wizz Air may also be hoping for more of a shake-out in the industry," he said.

"As more of its rivals go to the wall, so the competitive pressures it faces might ease slightly.”

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Wed, 30 Jan 2019 07:47:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213587/wizz-air-profits-dented-by-fuel-costs-while-full-year-guidance-hinges-on-brexit-and-easter-213587.html
<![CDATA[RNS press release - 3rd Quarter Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190130070002_13951057/ Wed, 30 Jan 2019 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190130070002_13951057/ <![CDATA[RNS press release - Total Voting Rights and Share Capital ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190110084443_13930272/ Thu, 10 Jan 2019 08:44:43 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190110084443_13930272/ <![CDATA[RNS press release - Notice of FY2019 Third Quarter Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190108112220_13927601/ Tue, 08 Jan 2019 11:22:20 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190108112220_13927601/ <![CDATA[RNS press release - December 2018 Traffic Statistics ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190103070010_13922049/ Thu, 03 Jan 2019 07:00:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20190103070010_13922049/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20181227070009_13915808/ Thu, 27 Dec 2018 07:00:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20181227070009_13915808/ <![CDATA[RNS press release - November 2018 Traffic Statistics ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20181204070003_13889850/ Tue, 04 Dec 2018 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20181204070003_13889850/ <![CDATA[News - UBS upgrades Wizz Air to ‘Buy’, cites underpenetrated markets and management record among positives ]]> https://www.proactiveinvestors.co.uk/companies/news/209669/ubs-upgrades-wizz-air-to-buy-cites-underpenetrated-markets-and-management-record-among-positives-209669.html Wizz Air Holdings PLC (LON:WIZZ) has been upgraded to ‘Buy’ from ‘Neutral’ by UBS, with analysts citing underpenetrated markets and management record as key elements of a positive medium-term outlook.

The Swiss bank said it expected double-digit traffic growth for the FTSE 250 airline over its forecast period, saying the bulk of its markets, mostly in central and eastern Europe, were expected to have higher GDP growth than in western Europe and “underpenetrated travel markets”.

READ: Wizz Air shares take a dive as it downgrades full-year profit guidance on fuel prices and summer disruption

Analysts added that the company’s status as “an ultra-low-cost carrier” gave it an ability to take market share away from the European network carriers, as well as having more than 250 planes on order which would see the fleet size nearly triple by 2027.

A “proven record of execution by the management team” was also cited, with UBS adding that it saw “potential for material share price upside” despite recent volatility in oil prices which had seen airlines struggling to react fast enough on the capacity front.

Wizz itself had cited higher oil prices as well as strike disruption over the summer months when it downgraded its full-year net profit guidance in its interim results earlier this month.

“Should we see further capacity discipline in the industry and aided by Easter timing, it is possible that Wizz will see mid to high yield performance during year end 2020. If we assume 6% yield growth, we could see fair value upside to more than, £40 all else being equal” the analysts said.

Despite the upgrade, UBS trimmed its target price for the airline to 3,450p from 3,750p on valuation grounds as it reduced its enterprise value/underlying earnings (EBITDA) multiple to 7x from 8x to “reflect the uncertainties of where we are in the cycle”.

In late-morning trading Wednesday, Wizz shares were up 4.2% at 2,916p, a 15% discount to UBS’s target price.

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Wed, 21 Nov 2018 11:11:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209669/ubs-upgrades-wizz-air-to-buy-cites-underpenetrated-markets-and-management-record-among-positives-209669.html
<![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20181109112210_13861853/ Fri, 09 Nov 2018 11:22:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20181109112210_13861853/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20181107145011_13858892/ Wed, 07 Nov 2018 14:50:11 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20181107145011_13858892/ <![CDATA[News - Wizz Air shares take a dive as it downgrades full-year profit guidance on fuel prices and summer disruption ]]> https://www.proactiveinvestors.co.uk/companies/news/208709/wizz-air-shares-take-a-dive-as-it-downgrades-full-year-profit-guidance-on-fuel-prices-and-summer-disruption-208709.html Wizz Air Holdings PLC (LON:WIZZ) shares dived in early trading Wednesday after it downgraded its net profit guidance for the full year as higher oil prices and summer disruption bit into its earnings.

In its interim results, the budget airline reported underlying earnings (EBITDAR) for the period of €505.5mln, up 2.7% year-on-year while revenues climbed 20% to €1.38bn.

READ: easyJet and Wizz Air shares move up as both report passenger number growth, but easyJet load factor slips

Despite the uptick in earnings, the group saw its EBITDAR margins contract during the first half to 36.7% from 42.8% previously.

In terms of passengers, Wizz carried 18.8mln in the first half, up 20% on a year ago while its load factor increased to 93.6% from 92.8%.

Despite the positive figures, the airline said that headwinds caused by higher oil prices and disruption over the summer, which was marred by air traffic control strikes, meant it had lowered its net profits guidance for the full year to between €270mln and €300mln.

The group had previously forecast full-year profits of between €310 and €340mln.

József Váradi, chief executive of Wizz Air, said that an “encouraging revenue environment, robust demand and an improved operational performance” had allowed the company to offset around half of an €80mln fuel headwind and disruption costs, however, this wasn’t enough to prevent the downgrade.

He added that as a result of the rising fuel costs, the company had “trimmed” its second half capacity growth to 14% from 18% previously.

In a note to clients, analysts at City broker Liberum said the challenges faced by Wizz had been “well flagged by other airlines” although the moderation in capacity growth would “eventually improve the industry’s ability to offset higher fuel costs through higher unit revenues”.

Wizz Air shares were down 5.2% at 2,527p.

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Wed, 07 Nov 2018 08:36:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/208709/wizz-air-shares-take-a-dive-as-it-downgrades-full-year-profit-guidance-on-fuel-prices-and-summer-disruption-208709.html
<![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20181107070004_13857568/ Wed, 07 Nov 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20181107070004_13857568/ <![CDATA[RNS press release - October 2018 Traffic Statistics ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20181106070006_13855907/ Tue, 06 Nov 2018 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20181106070006_13855907/ <![CDATA[RNS press release - Notice of FY19 Half Year Results Date ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20181008070006_13819266/ Mon, 08 Oct 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20181008070006_13819266/ <![CDATA[RNS press release - September 2018 Traffic Statistics ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20181002070005_13812165/ Tue, 02 Oct 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20181002070005_13812165/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180926070006_13804572/ Wed, 26 Sep 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180926070006_13804572/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180904150747_13778535/ Tue, 04 Sep 2018 15:07:47 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180904150747_13778535/ <![CDATA[RNS press release - August 2018 Traffic Statistics ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180904070003_13777390/ Tue, 04 Sep 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180904070003_13777390/ <![CDATA[RNS press release - Senior Management Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180831133002_13775050/ Fri, 31 Aug 2018 13:30:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180831133002_13775050/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180806143815_13745301/ Mon, 06 Aug 2018 14:38:15 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180806143815_13745301/ <![CDATA[RNS press release - July 2018 Traffic Statistics ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180806070004_13744075/ Mon, 06 Aug 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180806070004_13744075/ <![CDATA[News - Wizz Air sees earnings contract in first quarter as air traffic disruptions bite ]]> https://www.proactiveinvestors.co.uk/companies/news/201515/wizz-air-sees-earnings-contract-in-first-quarter-as-air-traffic-disruptions-bite-201515.html Wizz Air Holdings PLC (LON:WIZZ) has seen a contraction in its earnings for the first quarter as air traffic disruptions led to a spike in cancellations and passenger compensation costs.

The FTSE 250 airline reported underlying earnings (EBITDAR) of €151.4mln for the period, down from €155.9mln in the same period last year, despite a growth in revenues to €553.4mln from €469.3mln.

READ: Low-cost airlines Ryanair and Wizz Air carry more passengers in June

The group’s underlying margins also contracted to 27.4% from 33.2% in the first quarter of 2017, although both the number of passengers carried and the load factor grew in the period, to 8.6mln from 7.2mln and to 92.1% from 91.2% respectively compared to the same period a year ago.

Despite the growth in revenues, the airline said an “unprecedented” number of disruptions caused mainly by European air traffic control disputes had led to a 426% increase in cancellations to 145 and a 203% increase in passenger delay and compensation costs to €9.1mln.

In its outlook for the rest of the financial year, the company forecast an increase in its load factor of 1 percentage point, with a net profit estimate of between €310mln-€340mln, around 12.7% higher than its €275mln profit for the 2018 financial year at the lowest estimate.

József Váradi, Wizz Air’s chief executive, said that the company had delivered “a very solid performance” despite the “significant challenges caused by European air traffic control issues”.

He added that the airline had expanded its fleet beyond its milestone of 100 aircraft during the quarter and that the firm was confident of delivering its net profit estimates for the full financial year.

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Wed, 25 Jul 2018 07:55:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/201515/wizz-air-sees-earnings-contract-in-first-quarter-as-air-traffic-disruptions-bite-201515.html
<![CDATA[RNS press release - 1st Quarter Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180725070005_13730013/ Wed, 25 Jul 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180725070005_13730013/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180724132420_13729512/ Tue, 24 Jul 2018 13:24:20 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180724132420_13729512/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180724115822_13729428/ Tue, 24 Jul 2018 11:58:22 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180724115822_13729428/ <![CDATA[News - Low-cost airlines Ryanair and Wizz Air carry more passengers in June ]]> https://www.proactiveinvestors.co.uk/companies/news/200006/Low-cost-airlines-Ryanair-and-Wizz-Air-carry-more-passengers-in-June-200006.html Ryanair Holdings PLC (LON:RYA) and Wizz Air Holdings PLC (LON:WIZZ) saw an increase in passenger numbers last month, with Wizz Air helped by the addition of four new routes to and from the UK.   

Dublin-headquartered Ryanair saw its passenger numbers increase by 7% to 12.6mln in June 2018, up from 11.8mln at the same stage a year ago. The airline's load factor - the ratio of passengers to available set - remained steady at 96%.

READ: Ryanair on the 'pessimistic side of cautious' as it cuts profit guidance

The Irish company said air traffic control strikes and staff shortages caused over 1,100 flight cancellations in June, compared to just 41 cancellations a year ago.

Meanwhile, FTSE 250-listed Wizz Air said its passenger numbers increase by 21.8% to 3mln in June 2018, up from 2.4mln a year earlier, while its load factor rose to 93.3% from 92.3%.

In the rolling 12 months to the end of June, Wizz passenger numbers rose by 23.2% to 31mln from 25.2mln.

Wizz Air said it added six new routes overall in June, with one additional route each to and from Poland and Lithuania as well, and it celebrated the opening of its newest base in Vienna as well as the launch of its Pilot Academy Program in Bulgaria.

The company also had four brand-new Airbus A320 delivered, taking its fleet total to 102 aircraft. 

In late afternoon trading, Ryanair's London traded shares were 0.1% lower at €15.54, while Wizz Air shares were 0.3% higher at 3,503p.

 -- Adds share price --

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Tue, 03 Jul 2018 07:33:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/200006/Low-cost-airlines-Ryanair-and-Wizz-Air-carry-more-passengers-in-June-200006.html
<![CDATA[RNS press release - June 2018 Traffic Statistics ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180703070006_13702681/ Tue, 03 Jul 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180703070006_13702681/ <![CDATA[RNS press release - Notice of FY2019 First Quarter Results Date ]]> https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180626070001_13692991/ Tue, 26 Jun 2018 07:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14534/LSE20180626070001_13692991/