Wizz Air shares fail to launch despite record profits

The price of shares in FTSE 250 airline Wizz Air (LON:WIZZ) has fallen by 2.57% to 3,771.54p (as of 10:45 GMT) as total costs rose by 21.1% during the 6 months ended 30th September. Revenues were up by 21.7%, driven by ancillary income and a 17.9% increase in passenger numbers.

CEO József Váradi commented: “Wizz Air again reports all-time high financial results for the first half of our current financial year as our low fare – low cost business model delivered an 18% increase in passenger numbers, higher load factors, strong cost and yield performance with ex-fuel unit cost down 3% and unit revenue up 3% year-on-year. These outcomes delivered a record net profit of €372 million. We are particularly pleased to report expanding net profit margin while delivering industry leading growth rates in an operating environment of higher fuel prices“.