June 3, 2020 / 6:23 AM / 2 months ago

Wizz Air profits rise 30% last year before coronavirus hit

LONDON, June 3 (Reuters) - Hungarian low-cost airline Wizz Air grew profits by 30% in the year to the end of March 2020, but said that it could not provide guidance for this year because of the coronavirus pandemic which has heavily restricted air travel.

Wizz Air posted underlying net profit of 344.8 million euros, slightly behind its forecast of 350 million euros to 355 million euros, and higher than the 265.4 million euros it made in the previous year, boosted by increased passenger numbers.

Since the end of its financial period, Wizz’s operations have been limited by the pandemic and it said that while it expected to grow seat numbers in its 2020-2021 year, it was too early to guide on net profit.

Reporting by Sarah Young; editing by James Davey

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