Wizz Air shares take off after profit update

Shares in budget airline Wizz Air (LON:WIZZ) were lifted by 4.10% to 2,998p (as of 13:15 GMT) after it announced that net profits for the year ended 31st March would be at the upper end of previous guidance. Demand remained robust with load factors improving 260 basis points.

Management said that the current year appeared to be starting well with indicators suggesting good revenue growth that would be driven by the airline’s ancillary revenue streams. The company has taken delivery of 2 new Airbus A321 NEOs, adding additional large, fuel-efficient aircraft to its fleet.