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Source – SMW
The Hungarian low-cost airline Wizz Air has announced a sharp drop in its revenue in the third quarter after being hit by rising fuel costs. Net profit for the three months of December fell 87% to 87%, down 14.0 million euros from the previous year, despite an increase in the number of pbadengers increasing the figure 21% business. Profit margins fell by three percentage points to 0.3%. Wizz Air has nevertheless maintained its annual profit target for the period ranging from 270 to 300 million euros. "Where we will fall in this range will depend on the magnitude of the pressures on yields in March, which will be affected from one year to the next as Easter falls after the end of the year. fiscal year in April, and external factors such as uncertainty regarding Brexit, "said the general manager. Jozsef Varadi said. In the third quarter, operating costs jumped 26%, driven by a 22% increase in unit fuel costs.
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