Shares in Wizz Air Holdings PLC (AIM:WIZZ) rose 5% after it returned to profitability in the 12 months ending 31 March while noting an “encouraging start” to the current financial year.
The London-listed Hungarian budget airline carried a record 62 million passengers in the period, a 21.4% increase from the previous year, driving total revenue up by 30.2% to €5 billion (£4.25 billion).
The company reported an operating profit of €437.9 million, a significant turnaround from the loss of €466.8 million in the 2023 financial year.
Chief executive József Váradi said: “Sustained healthy demand for air travel across our markets was a defining feature of F24, signalling that the surge witnessed post-pandemic has evolved into a longer-term trend in consumer behaviour.”
Looking ahead, Wizz Air forecasts flat capacity for the first half and the full fiscal year of 2025, with load factors expected to reach 92%.
Revenue per available seat kilometre (RASK) is projected to rise by high single digits, and net income is anticipated to be in the range of €500-600 million.
Wizz Air shares added 5.4% in opening Thursday exchanges.