Hungarian low-cost airline Wizz Air has returned to profit after three years of losses, thanks mainly to strong travel demand. Net profit for the 2024 financial year, which ended in March, was 365.9 million euros (9.05 billion kronor). A year earlier, the company had a loss of 535 million euros. The airline said in its earnings report today.
Record
Total revenue rose 30.2 percent to 5.1 billion euros. The company carried a record 62 million passengers, up 21.4 percent from the previous fiscal year. Wizz Air started flying 20 years ago and has carried over 390 million passengers since then.
The airline has benefited from consistently strong demand, even as it has faced challenges such as flight cancellations due to the conflict in the Middle East, an engine inspection that has put part of its fleet out of service, and air traffic control disruptions. In the current financial year, management expects profits to rise further to between EUR 500 million and EUR 600 million. The outlook is justified by the interest in flights, especially in the summer months. After the pandemic, people are prioritising holiday spending.
Year 2025
“As we enter the 2025 financial year, demand for air travel remains strong and will not decline in the near term, supporting an environment of higher revenues as capacity remains limited across the industry,” said CEO József Váradi.
Wizz Air has been operating since 2004 and currently flies to more than 200 destinations in around 50 countries. At the end of the last fiscal year, it had 208 Airbus aircraft.
Source: Czech Press Office
