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Wizz Air Q3 Profit Falls; Affirms FY19 Outlook - Quick Facts

Wizz Air Holdings Plc (WIZZ.L) on Wednesday reported third-quarter profit of 1.7 million euros, down 87.6 percent from 14.0 million euros in the prior-year period.

However, revenues for the quarter grew 21.2 percent to 512.7 million euros from 422.9 million euros last year.

EBITDAR for the quarter rose 2.0 percent from the year-ago period to 106.3 million euros.

In the third quarter, Wizz Air carried 8.1 million passengers, a 14.9 percent increase from the previous year.

József Váradi, Wizz Air Chief Executive said, "In our third quarter Wizz Air delivered 15% passenger growth and 91% load factor, 2 percentage points higher year on year. Due to higher fuel prices we proactively adjusted growth capacity to help offset the cost pressure with higher yields. As a result the Company saw 6% increase in unit revenues per ASK in the reporting period."

Looking ahead to fiscal 2019, Wizz Air affirmed its net profit outlook in a range between 270 million euros and 300 million euros.

However, the company added that where it will be within this range will depend on the extent of March yield pressures which will be affected year-on-year given Easter falls after the financial year-end in April and external factors such as BREXIT uncertainty.

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