Wizz Air today reported a fiscal first quarter 2025 net profit of €1.2 million on a 2.0 percent year-over-year increase in revenue to €1.26 billion.
On Thursday (August 1, 2024), Wizz Air Holdings Plc reported their fiscal first quarter 2025 financial results for the period ending June 30, 2024. The carrier reports a first quarter net profit of €1.2 million on a 2.0 percent year-over-year increase in revenue to €1.26 billion. Wizz Air’s Q1 FY25 revenue per available seat kilometer (RASK) increased 3.1 percent to 4.32 euro cents, while cost per available seat kilometer (CASK) increased 7.0 percent to 4.30 euro cents. Costs excluding fuel (CASK-ex) increased 8.2 percent to 2.72 euro cents. The airline’s cash balance at the end of the fist fiscal quarter was €1.84 billion, up 15.7 percent compared to the end of March 2024. At June 30, 2024, Wizz Air had cash, cash equivalents and restricted cash totaling €1.84 billion, of which €1.73 was free cash, a 15.7 percent increase versus the previously quarter.
In Thursday’s announcement, Wizz Air’s Chief Executive Officer, József Váradi, said,
“Our performance this quarter demonstrates the resilience of Wizz Air's ultra-low-cost business model. Despite the competitive landscape and ongoing supply chain challenges, our strategic focus on delivering the lowest fares, improving our route network, and maintaining high operational efficiency has yielded results.
“We have made significant operational strides this quarter, achieving a 99.8 per cent completion and a 67.6 per cent on-time performance rate, up 7.1 ppts from last year. This improvement is the result of our continuous investment in technology, staff training and infrastructure enhancements. We successfully operate almost 800 routes in over 50 countries between 33 bases across Europe and the Middle East.
“Looking ahead, capacity is stabilizing and we are focusing on further optimizing our operations, with an emphasis on improving our most profitable bases and enhancing efficiency. We remain optimistic about the demand outlook, with both ticket and ancillary RASK expected to be up year-on-year while load factor is maintained above 90%. We remain on track to return to annual capacity growth in F26, underpinned by the pipeline of Airbus deliveries.”
During Q1 FY25, Wizz Air took delivery of nine new Airbus A321neo aircraft, dry-leased three A320ceos, and redelivered two A320ceos. The carrier ended the period with a fleet of 218 aircraft, including 41 A320ceos, 41 A321ceos, six A320neos and 130 A321neos, with an average age of 4.3 years. New technology aircraft now comprise 62 percent of the Wizz Air fleet. The airline also wet-leased eight aircraft for periods ranging from 6-12 months, to maintain capacity while certain aircraft are grounded due to GTF engine inspections. At June 30, 2024, Wizz Air’s firm order backlog included 13 A320neos, 257 A321neos, and 47 A321XLRs, for a total of 317 aircraft.
Budapest, Hungary-based Wizz Air is the fastest growing European ultra-low-cost carrier (ULCC) and operates an all Airbus A320 and A321 fleet of over 215 aircraft. Wizz Air is the largest ULCC in Central and Eastern Europe and serves over 1,100 routes to/from 50 countries. During FY 2024, ending March 31, 2024, Wizz carried 62 million guests. Wizz Air offers superior guest service at exceptionally low fares. Shares in the company trade on the London Stock Exchange under the ticker symbol WIZZ.
Source: Wizz Air
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